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Due to an error in computing depreciation expense, Crote Corporation understated accumulated depreciation by $50 million as of December 31, 2024. Crote has a tax
Due to an error in computing depreciation expense, Crote Corporation understated accumulated depreciation by $50 million as of December 31, 2024. Crote has a tax rate of 25%. Crote's retained earnings as of December 31, 2024, would be: Note: Round million answer to 2 decimal places. Multiple Choice understated by $50.00 million. understated by $37.50 million. overstated by $50.00 million. overstated by $37.50 million
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