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Intraperiod Income Tax Expense Kline Company has the following items of pretax financial (and taxable) income for the current year: Income from continuing operations $100,000

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Intraperiod Income Tax Expense Kline Company has the following items of pretax financial (and taxable) "income" for the current year: Income from continuing operations $100,000 Gain on disposal of discontinued Division B 23,000 Loss from operations of discontinued Division B (11,000) Kline is subject to income tax rates of 30% on the first $40,000 of income and 35% on all income in excess of $40,000. Prepare a schedule to calculate Kline's intraperiod income tax expense (and credit) amounts

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