Hobby Company has the following resultsbalances for the year ending 1231/16: 25,000,000 Book Income Amounts already included in determining book income: s 1,200,000 Book Depreciation (used to calculate book income) Tax Depreciation (for tax purposes only) 1.7000, 2,000,000 PD write-off of impaired goodwill (stock acquisition) 20,000AD Bribes paid to expedite permits for new warehouse Insurance expense for three years 600,000 800,000RD v Expenses for penalties Meals and entertainment expenses 50% v Municipal interest income exempt from Federal tax 450.000 PD 1,100,000 TD v Bad debt expense accrued but not yet written off v Revenue previously recognized for tax purposes 300,000 4,000,000 Tb v Bonus accrued for books but not yet paid Assuming a statutory Federal Income Tax rate of 35%, calculate the following: A. Taxable Income B. Federal Income Tax Provision (per Financial Statements) C. Federal Income Tax Liability (per return) D. Effective tax rate per Financial Statements) E. Deferred Tax Asset (Liability)