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Classify the following transaction by determining whether the transaction is creating a temporary or permanent difference between the books and the tax return. This year
Classify the following transaction by determining whether the transaction is creating a temporary or permanent difference between the books and the tax return. This year the corporation took depreciation expense of $1,400,000. Using the MACRs tax calculation the tax depreciation was $1,900,000. O a. Temporary O b. Permanent O c. There is no difference in the amount recognized on the book and the tax return created by this transaction
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