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A company's trial balance shows a debit balance of 1.1m on the corporation tax account, relating to last year, and a credit balance of 1.2m

A company's trial balance shows a debit balance of 1.1m on the corporation tax account, relating to last year, and a credit balance of 1.2m on the deferred tax account. The tax charge for the current year is estimated at 12m. The carrying amounts in net assets are 3.0m in excess of their tax base. The tax rate is 30%. What is the amount that will be shown as the tax charge for the year on the Income?

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