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Angel Corporation reported pretax book income of $1,012,000. During the current year, the net reserve for warranties increased by $26,800. In addition, tax depreciation exceeded
Angel Corporation reported pretax book income of $1,012,000. During the current year, the net reserve for warranties increased by $26,800. In addition, tax depreciation exceeded book depreciation by $103,000. Finally, Angel subtracted a dividends received deduction of $27,400 in computing its current year taxable income. Angel's hypothetical tax expense in its reconciliation of its income tax expense is: Multiple Choice $212,520. $206,892 $196,518. $190,890
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