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GREY Company reported depreciation of P250,000 on its 2020 tax return. However, in its 2020 statement of comprehensive income, GREY reported depreciation of P100,000. The
GREY Company reported depreciation of P250,000 on its 2020 tax return. However, in its 2020 statement of comprehensive income, GREY reported depreciation of P100,000. The difference in depreciation is a temporary difference that will reverse over time. Assuming GREYs tax rate is constant at 30%, what amount should be added to the deferred tax liability in 2020?
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