Question
Green Corporation reported pretax book income of $1,018,000. During the current year, the net reserve for warranties increased by $50,900. In addition, tax depreciation exceeded
Green Corporation reported pretax book income of $1,018,000. During the current year, the net reserve for warranties increased by $50,900. In addition, tax depreciation exceeded book depreciation by $104,500. Finally, Green subtracted a dividends received deduction of $25,450 in computing its current year taxable income. Green's cash tax rate is:
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Auditing Integrated Concepts And Procedures
Authors: Donald H. Taylor, G. William Glezen
5th Edition
0471524239, 978-0471524236
