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Cullumber Corporation purchased a machine on January 2,2024 , for $2900000. The machine has an estimated 5-year life with no salvage value. The straight-line method
Cullumber Corporation purchased a machine on January 2,2024 , for $2900000. The machine has an estimated 5-year life with no salvage value. The straight-line method of depreciation is being used for financial statement purposes and the following MACRS amounts will be deducted for tax purposes: Assuming an income tax rate of 20% for all years, the net deferred tax liability reported on Cullumber's balance sheet at December 31 2025 is $4640.$64960.$0.$69600
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