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Determine income tax payable under the current situation:Taxable income during the year: $220 millionChange in future taxable amounts during the year: $16 millionTax rate: 25%.
Determine income tax payable under the current situation:Taxable income during the year: $220 millionChange in future taxable amounts during the year: $16 millionTax rate: 25%. a. $4 million b. $59 million c. None of these answer choices are correct. d. $51 million e. $55 million
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