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I thought I calculated this correctly, however it seems my calculations were wrong. Could someone kindly provide me with guidance? Instructions would be appreciated. Tar
I thought I calculated this correctly, however it seems my calculations were wrong. Could someone kindly provide me with guidance? Instructions would be appreciated.
Tar Heel Corporation reported pretax book income of $1,016,000. During the current year, the net reserve for warranties increased by $100,800. In addition, tax depreciation exceeded book depreciation by $204,000. Finally, TarHeel subtracted a dividends received deduction of $53,200 in computing its current year taxable income. Tar Heel's accounting effective tax rate is: Multiple Choice 21%. 19.90%. 18.8%. 17.70%Step by Step Solution
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