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Facegram, Inc., reported net cumulative favorable book - tax temporary differences of $ 1 , 0 0 0 , 0 0 0 at the end

Facegram, Inc., reported net cumulative favorable book-tax temporary differences of $1,000,000 at the end of 2023. Assume that in 2024, legislation is passed that will increase Facegram's tax rate from 21% to 25% beginning in 2025. Facegram expects to report $500,000 of 2024 pre-tax book and taxable income with no change to its net cumulative book-tax temporary differences.

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