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3. Flower Plc has the following projected information: Year ended Profit before 31 December depreciation Capital allowances Depreciation 2015 2016 2017 2018 180,000 172,800 158,400
3. Flower Plc has the following projected information: Year ended Profit before 31 December depreciation Capital allowances Depreciation 2015 2016 2017 2018 180,000 172,800 158,400 144,000 57,600 11,520 11,520 80,640 11,520 46,080 34,560 23,040 The tax rate for Flower Plc is 35%. There is no deferred tax balance brought forward as at 1 January 2015. Required: (a) What is deferred tax and what are permanent and temporary differences when it comes to deferred tax
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