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Greene Co. has pre tax book income for the year ended December 31, 2015 in the amunt of $295,000 and has a tax rate of
Greene Co. has pre tax book income for the year ended December 31, 2015 in the amunt of $295,000 and has a tax rate of 30%. The following timing diference was present: Depreciation for tax purposes in excess of book depreciation - $14,500.
What should greene co. record as its federal income tax liability for 2015?
A) $92,850 B) $88,500 C) $84,150 D) $91,450
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