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A broadcasting company failed to make a year-end accrual of $350,000 for fines due to a violation of FCC rules. Its tax rate is 30%.

A broadcasting company failed to make a year-end accrual of $350,000 for fines due to a violation of FCC rules. Its tax rate is 30%. As a result of this error, net income was

Choices are

overstated by 105000

overstated by 245000

unaffected

overstated by 350000

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