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Deferred Tax Calculation. The tax rate is 35% and the income before tax was $150,000 after warranty expense of $10,000. If the tax deduction of
Deferred Tax Calculation. The tax rate is 35% and the income before tax was $150,000 after warranty expense of $10,000. If the tax deduction of from the warranty for the year was $45,000, what would be the tax expense, tax paid, and change in deferred tax (you should provide whether it is asset or liability)?
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