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For each of the following book-tax differences, identify first whether it is either temporary or permanent. Then, identify the difference as either favorable or unfavorable.
For each of the following book-tax differences, identify first whether it is either temporary or permanent. Then, identify the difference as either favorable or unfavorable.
Business interest expense limited by Code Sec. 163.
Select one:
A. Permanent, favorable
B. Temporary, unfavorable
C. Temporary, favorable
D. Permanent, unfavorable
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