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10) For the year ended December 31, 2016, Beep Inc. recorded pre-tax book income of $600. To compute taxable income for federal income tax purposes,
10) For the year ended December 31, 2016, Beep Inc. recorded pre-tax book income of $600. To compute taxable income for federal income tax purposes, the following items should be noted: $70 Fines Paid to Regulators Depreciation Deductibles for Tax Purposes in Excess of Depreciation Recorded in GAAP Book Income $80 Tax Rate 35%
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