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C Wilco Inc. recognizes $50,000 depreciation expense related to new equipment in their 2022 financial statements and deducts $75,000 of depreciation related to the

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C Wilco Inc. recognizes $50,000 depreciation expense related to new equipment in their 2022 financial statements and deducts $75,000 of depreciation related to the same equipment on their 2022 tax return. All other things being equal, this difference in depreciation recognition will produce: Deferred Tax Asset O Permanent Tax Difference O Deferred Tax Liability O No difference

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