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For the current year ($ in millions), Central Park Corp. had $80 in pretax accounting income. This included bad debt expense of $6 based on
For the current year ($ in millions), Central Park Corp. had $80 in pretax accounting income. This included bad debt expense of $6 based on the allowance method, and $20 in depreciation expense. Two million in receivables were written off as uncollectible, and MACRS depreciation amounted to $35. In the absence of other temporary or permanent differences, what was Central Park's taxable income? Select one: O a. $69 million O b. $49 million O c. $60 million O d. $73 million
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