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Cumula Co. has the following cumulative taxable temporary differences: The tax rate enacted for Year 2 is 40%. Current taxable profit for Year 2 is
Cumula Co. has the following cumulative taxable temporary differences: The tax rate enacted for Year 2 is 40%. Current taxable profit for Year 2 is $3,000,000 and there are no other temporary differences. What is Cumula Co.'s accounting profit for Year 2? Year 1 $1,000,000 Year 2 $1,000,000
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