Assume Kevin Co. recognizes $15,000 GP from Installment sales for financial accounting in 2009. The GP will be taxable at $3,000 per year for each year from 2009 through 2013, inclusive. The company earns $10,000 additional income each year and the tax rate is 40%. Kevin Company also has investments in the Tax-Exempt Municipal bonds of the City of Freedonia. Each year, Kevin Co. earns $5,000 interest income from these bonds. The extra $5,000 revenue IS included in the $10,000 additional income mentioned above