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For the following 14 items please indicate whether it is a permanent or temporary difference and whether it creates a deferred tax asset (DTA) or

For the following 14 items please indicate whether it is a permanent or temporary difference and whether it creates a deferred tax asset (DTA) or deferred tax liability (DTL)

Permanent (P) or

Temporary Difference (T)

DTA or DTL

Municipal Bond Interest

First Year Additional Depreciation

Warranty accruals

Public Company executive compensation in excess of $1 million

Government imposed penalties and fines

Reserve for doubtful account receivables

Entertainment expenses

Capital losses

Limitation on corporate interest expense

Meal expenses

Net Operating Losses

Amortization of goodwill (assume book and tax basis are the same)

Foreign Derived Intangible Income (FDII) special deduction

General Business Credit for increasing research activities

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