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Isaac Inc began operations in January 2018 For certain of its property sales, Isaac recognizes income in the period of sole for financial reporting purposes.
Isaac Inc began operations in January 2018 For certain of its property sales, Isaac recognizes income in the period of sole for financial reporting purposes. However, for income tax purposes. Isaac recognizes income when it collects cash from the buyer's instaliment payments In 2018, beached $675 million in sales of this type Scheduled collections for these sales are as follows O 2018 2019 2020 2021 5 76 million 132 million 132 million 166 million 169 million 5675 million 2022 Assume that isaac has a 28%. Income tax rate and that there were no other differences in income for Financial statement ord to purposes Suppose that in 2019, legislation revised the income tax rates so that I would be taxed in 2020 and herind e n 28 Assume that there were no other differences in income for financial statement and tax purposes. Ignoring operating expenses and additional sales in 2019. what deferred tax liability would Isaac report in its year-end 2019 baarce sheert (Round your answer to the nearest whole million) Mumple Choice 0 0 $37 million 0 $152 min 0 S178 milion 0 52857 min
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