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For its first taxable year, Rony, Incorporated's accounting records showed the following: Required: a. Use a 21 percent rate to compute Rony's deferred tax asset

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For its first taxable year, Rony, Incorporated's accounting records showed the following: Required: a. Use a 21 percent rate to compute Rony's deferred tax asset with respect to the $126,000 book/tax difference. b. Use a 21 percent rate to compute Rony's deferred tax asset with respect to its $826,000NOL carryforward. c. Compute Rony's tax benefit (negative tax expense) reported on its first income statement. Complete this question by entering your answers in the tabs below. Use a 21 percent rate to compute Rony's deferred tax asset with respect to the $126,000 book/tax difference

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