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Coop Incorporated owns 38 percent of Chicken Incorporated. Both Coop and Chicken are corporations. Chicken pays Coop a dividend of $18,000 in the current year. Chicken also reports financial accounting earnings of $28,000 for that year. Assume Coop follows the general rule of accounting for investment in Chicken. What is the amount and nature of the bopk-tax difference to Coop associated with its investment in Chicken stock (ignoring the dividends received deduction)? Multiple Choice $7,360 unfavorable $7,360 favorable $18,000 unfavorable $18,000 favorable None of the choices is correct. WFO Corporation has gross receipts according to the following schedule: If WFO began business as a cash-method corporation in Year 1 , in which year would it have first been required to use the accrual method? Multiple Choice Year 3 Year 4 Year 5 Year 6 None of the choices is correct