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Among the items reported on Cord, Inc.?s income statement for the year ended December 31, year 1, were the following: Payment of penalty $ 5,000

Among the items reported on Cord, Inc.?s income statement
for the year ended December 31, year 1, were the following:

Payment of penalty $ 5,000

Insurance premium on life of an officer with
Cord as owner and beneficiary 10,000

Temporary differences amount to

$0
$ 5,000
$10,000
$15,000

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