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Green Corporation reported pretax book income of $1,014,000. During the current year, the net reserve for warranties increased by $50,700. In addition, tax depreciation exceeded
Green Corporation reported pretax book income of $1,014,000. During the current year, the net reserve for warranties increased by $50,700. In addition, tax depreciation exceeded book depreciation by $103,500. Finally, Green subtracted a dividends received deduction of $25,350 in computing its current-year taxable income. Green's cash tax rate is: Multiple Choice 21.00 percent 20.48 percent 19.95 percent 19.38 percent
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