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Fleming Company has the following cumulative taxable temporary differences: 12/31/21 $1,600,000 12/31/20 $2,250,000 The tax rate enacted for 2021 is 30%, while the tax rate
Fleming Company has the following cumulative taxable temporary differences: 12/31/21 $1,600,000 12/31/20 $2,250,000 The tax rate enacted for 2021 is 30%, while the tax rate enacted for future years is 20%. Taxable income for 2021 is $4,000,000 and there are no permanent differences. Fleming's pretax financial income for 2021 is: a. $2,400,000 b. $3,350,000 c. $4,325,000 d. $5,600,000
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