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Interest income on muncipal bonds is permanent difference or temporary? The first year of operations for Grayton Company is 2015. Given this information for 2015:

Interest income on muncipal bonds is permanent difference or temporary? image text in transcribed
The first year of operations for Grayton Company is 2015. Given this information for 2015: No other permanent or temporary differences exist. The litigation item will be paid in 2018 and is appropriately considered a non-current liability. The depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable. Indicate the proper deferred tax amount(s) to appear on the 12/31/15 balance sheet: a. A noncurrent liability of $30,000 b. A noncurrent liability of $60,000 c. A noncurrent asset of $30,000 and a noncurrent liability of $60,000 d. A current liability of $20,000 and a noncurrent liability of $10,000 e. A noncurrent asset of $60,000 and a noncurrent liability of $30,000

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