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Arden Company generated income before income tax of $1,000,000 in the first quarter of the current year. At the end of the first quarter, the
Arden Company generated income before income tax of $1,000,000 in the first quarter of the current year. At the end of the first quarter, the company estimated its worldwide effective annual tax rate would be 30 percent. Arden Company generated income before income tax of $1,200,000 in the second quarter of the current year. At the end of the second quarter, due to anticipated increases in income tax rates in several foreign countries, the company estimates its worldwide effective annual tax rate will be 32 percent. Determine the amount of income tax expense that Arden Company should recognize in the second quarter of the current year
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