Question: Wayne Corporation had a decrease in deferred tax liability of $35 million, a decrease in deferred tax assets of $25 million, and an increase in

Wayne Corporation had a decrease in deferred tax liability of $35 million, a decrease in deferred tax assets of $25 million, and an increase in tax payable of $115 million. The company is subject to a tax rate of 25%. The total income tax expense for the year was:

$105 million.

$160 million.

$130 million.

$125 million.

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