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Green Corporation reported pretax book income of $1,008,000. During the current year, the net reserve for warranties increased by $51,700. In addition, tax depreciation exceeded
Green Corporation reported pretax book income of $1,008,000. During the current year, the net reserve for warranties increased by $51,700. In addition, tax depreciation exceeded book depreciation by $102,000. Finally, Green subtracted a dividends received deduction of $26,600 in computing its current year taxable income. Green's cash tax rate is:
Multiple Choice
21%.
20.45%.
19.89%.
19.40%.
please do not choose the 31.41 or 31% because that is wrong
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