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2. For the year ended December 31, year 1, Mole reported pretax financial statement income of $800,000. Its taxable income was $620,000. The difference is
2. For the year ended December 31, year 1, Mole reported pretax financial statement income of $800,000. Its taxable income was $620,000. The difference is due to accelerated depreciation for income tax purposes. Mole's effective income tax rate is 30%. What amount should Mole report as current income tax expense for year 12 (Note: Current portion is taxes payable)
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