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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 Permanent difference $300,000

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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 Permanent difference $300,000 (15,500) 284,500 (20,800) $263,700 Temporary difference-depreciation Taxable income Tringall's tax rate is 34%. 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 O $102,000 O O O

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