In 2020. Tamarisk's tax accountant made a mistake when preparing the company's income tax return. In 2023. Tamariskpaid 518.000 in penalties related to this error. Thed penalties were not deductible for tax purposes. Tamarisk owned a warehouse building for which it had no current use, so the company chose to use the buliding asa rental property. At the beginning of 2023. Tamarisk rented the building to SPK Inc. for two years at $260.000 per year. SPK paid the entire two years' rent in advance. Tamarisk used the straight-line depreciation method for accounting purposes and recorded depreciation expense of $404,000. For tax purposes, Tamarisk claimed the maximum capital cost allowance of $629,000. Tamarisk began to sell its products with a two-year warranty against manufacturing defects in 2023 to match a warranty introduced by its main competitor. In 2023, Tamarisk accrued $580,000 of warranty expenses: actual expenditures for 2023 were $279,000 with the remaining $301,000 anticipated in 2024. In 2023. Tamarisk was subject to a 35% income tax rate. During the year, the federal government announced that tax rates would be decreased to 33% for all future years beginning January 1,2024. In 2023, Tamarisk was subject to a 35% income tak rate. During the year, the federal government announced that tax rates wouka be decreased to 33% for all future years beginning January 1,2024. (a) Calculate the amount of any permanent differences for 2023. Permanent differences List of Accounts Attempts: 0 of 3 used Tamarisk Enterprises Ltd a private company following ASPE earned accounting income before taxes of $1,717,000 for the year ended December 31, 2023. During 2023, Tamarisk paid $250,000 for meals and entertainment expenses. In 2020, Tamarisk's tax accountant made a mistake when preparing the compamy'sincome tax return In 2023, Tantarisk paid $18,000 in penalties related to thiserror. These penalties were not deductible for tax purposes. Tamarisk owned a warehouse building for which it had no current use, so the company chose to use the building as a rental property. At the beginning of 2023, Tamarisk rented the building to SPK Inc, for two years at $260,000 per year. SPK paid the entire two years' rent in advance. Tamarisk used the straight-line depreciation method for accounting purposes and recorded depreciation expense of 5404,000 . For tax purposes. Tamarisk claimed the maximum capitat cost allowance of $629,000. Tamarisk began to sell its products with a two-year warranty against manufacturing defects in 2023 to match a warranty introduced by its main competitor. In 2023, Tamarisk accrued $580,000 of warranty expenses:actual expenditures for 2023 were $279,000 with the remaining $301,000 anticipated in 2024 In 2023. Tamarisk was subject to a 35% income tax rate. During the year, the federal government announced that tax rates would be decreased to 33\% for all future years beginning January 1, 2024 . (a) Calculate the amount of any permanent differences for 2023. Permanent differences $
