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For book purposes, RadioAlrcast incorporated reported $15,000 of income from munlclpal bonds. It also expensed $12,000 of radio statlon fillng fines pald to the FCC
For book purposes, RadioAlrcast incorporated reported $15,000 of income from munlclpal bonds. It also expensed $12,000 of radio statlon fillng fines pald to the FCC (a governmental agency) the same year. What is the total book-tax difference assoclated with these items? Is it favorable or unfavorable? What amount of the total adjustment is permanent and what amount is temporary
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