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It's a question, For book purposes, RadioAircast Inc. reported $15,000 of income from municipal bonds in 2017. It also expensed $12,000 of radio station filing
It's a question,
For book purposes, RadioAircast Inc. reported $15,000 of income from municipal bonds in 2017. It also expensed $12,000 of radio station filing fines paid to the FCC the same year.
What is the total book-tax difference associated with these items? Is it favorable or unfavorable?
What amount of the total adjustment is permanent and what amount is temporary?
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