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For 2021, its first year of operations, Dixon Development reported the following information: (data in millions of dollars):Pretax accounting income: $ 250Pretax accounting income included:Overweight
For 2021, its first year of operations, Dixon Development reported the following information: (data in millions of dollars):Pretax accounting income: $ 250Pretax accounting income included:Overweight fines (not deductible for tax purposes) 6Depreciation expense 67Depreciation in the tax return using MACRS: 105The applicable tax rate is 25%. There are no other temporary or permanent differences.Dixon's taxable income for 2021 is: (Enter your answer in millions (i.e., 5,000,000 should be entered as 5 and 5,500,000 should be entered as 5.5).
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