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A company has a tax rate of 25% and reports an income tax expense of CAD 100 million and taxes payable of CAD 75 million

A company has a tax rate of 25% and reports an income tax expense of CAD 100 million and taxes payable of CAD 75 million for the current year. If this difference is due solely to using different depreciation methods for financial reporting and tax purposes, the company most likely has a: A CAD 25 million deferred tax asset. B CAD 25 million deferred tax liability. C CAD 18.75 million deferred tax liability

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