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For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income $ 290,000 Permanent
For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:
Pretax accounting income | $ | 290,000 | ||
Permanent difference | (14,500 | ) | ||
275,500 | ||||
Temporary difference-depreciation | (20,400 | ) | ||
Taxable income | $ | 255,100 | ||
Tringali's tax rate is 33%. Assume that no estimated taxes have been paid. What should Tringali report as its income tax expense for its first year of operations?
Multiple Choice
$95,700.
$90,915.
$84,183.
$6,732.
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