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Alamo Inc. had $250 million in taxable income for the current year. Alamo also had a decrease in deferred tax assets of $33 million and
Alamo Inc. had $250 million in taxable income for the current year. Alamo also had a decrease in deferred tax assets of $33 million and an increase in deferred tax liabilities of $65 million. The company is subject to a tax rate of 32%. The total income tax expense for the year was:
Multiple Choice
$178 million.
$137 million.
$348 million.
$170 million.
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