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Eight independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by: ($ in millions) Temporary Differences Reported First on:

Eight independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by:

($ in millions)
Temporary Differences Reported First on:

The Income Statement

The Tax Return

Revenue Expense Revenue Expense
1. $39
2. $39
3. $39
4. $39
5. 34 39
6. 39 34
7. 34 39 29
8. 34 39 24 29

Required:

For each situation, determine taxable income assuming pretax accounting income is $290 million. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

Eight independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by: ($ in millions) Temporary Differences Reported First on: The Income Statement The Tax Return Revenue Expense Revenue Expense 1. $39 2. $39 3. $39 4. $39 5. 34 39 6. 39 34 7. 34 39 29 8. 34 39 24 29 Required: For each situation, determine taxable income assuming pretax accounting income is $290 million. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)

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