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Alamo Inc. had $370 million in taxable income for the current year. Alamo also had a decrease in deferred tax assets of $21 million and
Alamo Inc. had $370 million in taxable income for the current year. Alamo also had a decrease in deferred tax assets of $21 million and an increase in deferred tax liabilities of $57 million. The company is subject to a tax rate of 40%. The total income tax expense for the year was: |
a) | $226 million. |
b) | $201 million. |
c) | $448 million. |
d) | $222 million. |
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