1.Maria Industries a deferred tax asset of $7million for the year ended December 31,2022, related to a temporary difference of $28million. The tax rate was 25% . The temporary difference is expected to reverse in 2024 at which time the deferred tax asset will reduce taxable income. There are no other temporary difference in 2022-2024. Assume a new tax law is enacted in 2023 that causes the tax rate to change from 25% to 15% beginning in 2024. ( the rate remains 25% for 2023 taxes)Taxable income in 2023 is $56 million . Income expense in 2023 for Maria would be

2. Luis leased equipment from Stevens Company on December 31,2023. The lease is 10-year lease with annual payments of $90000 due beginning on January 1, 2023 and at each December 31 thereafter through 2031. The present value of lease payments is $759,180. Stevens Companys implicit rate of 4% is known by the lessee. In 2023 statement of cash flows , how much should be the amount of cash inflows (outflows) listed under financing activities related to the lease transaction ?