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For the current year ($ in millions), Centipede Corp. had $80 in pretax accounting income. This included warranty expense of $8 and $14 in depreciation
For the current year ($ in millions), Centipede Corp. had $80 in pretax accounting income. This included warranty expense of $8 and $14 in depreciation expense. 1 million of warranty costs were incurred, and MACRS depreciation amounted to $37. In the absence of other temporary or permanent differences, what was Centipede's income tax payable currently, assuming a tax rate of 40%? |
A.13.6 Million
B.22.4 Million
C.28.8 Million
D.25.6 Million
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