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4 DraftJacks, Inc., took an uncertain tax position in 2019, recording an unrecognized tax benefit of $100,000. In 2021, the IRS challenged the position and
4 DraftJacks, Inc., took an uncertain tax position in 2019, recording an unrecognized tax benefit of $100,000. In 2021, the IRS challenged the position and DraftJacks agreed to pay $120,000 to settle it. What impact does the settlement have on DraftJacks's 2021 book tax expense and book income? Explain
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