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Cullumber Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2021 Book income before
Cullumber Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2021 Book income before income taxes $2710000 Add temporary difference Construction contract revenue which will reverse in 2022 241000 Deduct temporary difference Depreciation expense which will reverse in equal amounts in each of the next four years (962400) Taxable income $1988600 Cullumber's effective income tax rate is 25% for 2021. What amount should Cullumber report in its 2021 income statement as the current provision for income taxes? O $677500 O $497150 O $60250 O $737750
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