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Apply the four step process for 2 0 2 6 and show work please!!! Multiple Temporary Differences - Example During 2024, its first year of

Apply the four step process for 2026 and show work please!!!
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Multiple Temporary Differences - Example During 2024, its first year of operations, Eli-Wallace Distributors reported pretax accounting income of $200 million which included the following amounts: Income (net) from installment sales of warehouses in 2024 of $8 million will be reported for tax purposes in 2025 ($6 million) and 2026 ($2 million). Depreciation is reported by the straight-line method on an asset with a four-year useful life. On the tax return, deductions for depreciation will be more than straight-line depreciation the first two years but less than straight-line depreciation the next two years: Income Statement Tax return differences 2024 2025 2026 2027 $50 50 50 50 $200 $66 88 30 16 $200 $(16) (38) 20 34 $0

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