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At the beginning of 2024, Excelsior Corp. had a deferred tax asset of $20,000 and a deferred tax liability of $30,000. Pre-tax accounting income for

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At the beginning of 2024, Excelsior Corp. had a deferred tax asset of $20,000 and a deferred tax liability of $30,000. Pre-tax accounting income for 2024 was $1,500,000 and the enacted tax rate is 20%. The following items are included in Excelsior's pre-tax income: What is Excelsior's taxable income for 2024? a. $1,500,000 b. $1,740,000 c. $1,260,000 d. $2,260,000

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