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For its first year of operations, Tringall Corporation's reconciliation of pretax accounting Income to taxable income is as follows: Pretax accounting income Permanent difference $290,000
For its first year of operations, Tringall Corporation's reconciliation of pretax accounting Income to taxable income is as follows: Pretax accounting income Permanent difference $290,000 (15,100) 274,900 (20,400) $254,500 Temporary difference-depreciation Taxable income Tringali's tax rate is 25%. Assume that no estimated taxes have been pald. What should Tringali report as Income tax payable for its first year of operations? Multiple Choice $5,100. $72,500. O G O $63,625 O $68,725
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