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20. Corporation H's auditors prepared the following reconciliation between book and taxable income. H's tax rate is 21 percent. Net income before tax $600,000 Permanent
20. Corporation H's auditors prepared the following reconciliation between book and taxable income. H's tax rate is 21 percent. Net income before tax $600,000 Permanent book/tax differences 15,000 Temporary book/tax differences (76,000) Taxable income $539,000 a. Compute Corporation Hs tax expense for financial statement purposes. b. Compute Corporation H's tax payable. c. Compute the net increase in Corporation H's deferred tax assets or deferred tax liabilities (identify which) for the year
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