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During the current year, Stern Company had pretax accounting income of $37 million. Stern's only temporary difference for the year was rent received for the

During the current year, Stern Company had pretax accounting income of $37 million. Stern's only temporary difference for the year was rent received for the following year in the amount of $14 million. Stern's taxable income for the year would be:

Multiple Choice

  • $37 million.

  • $23 million.

  • $51 million.

  • $42 million.

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