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22) LuxAir Incorporated (LA) has book income of $160.000. Included in this figure income generated from ownership in Jet Repair Corporation (RC), of which 1.A

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22) LuxAir Incorporated (LA) has book income of $160.000. Included in this figure income generated from ownership in Jet Repair Corporation (RC), of which 1.A owns 30 percent. JRC has $270,000 in earnings for the year and pays $32,000 in dividends to LA Assuming accounting for the investment in JRC (income from JRC and the DRD) are its only book-tax differences, what is LA's tax liability for the year? 23) Gull Corporation reported pretax book income of $2,000,000. Included in the computation were favorable temporary differences of $300,000, unfavorable temporary differences of $200,000, and favorable permanent differences of $50,000. Compute Gull's current income tax expense or benefit

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