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At the end of the current year, a company failed to accrue interest of $460,000 on its investments in municipal bonds. Its tax rate is

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At the end of the current year, a company failed to accrue interest of $460,000 on its investments in municipal bonds. Its tax rate is 25%. As a result of this error, net income is: Multiple Choice Unaffected. O Understated by $345,000 O Understated by $460,000. Understated by $115,000. O

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