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Jahlil Corporation has GAAP net income of $ 4 , 6 8 9 , 0 0 0 , 0 0 0 . To compute Jahlil's
Jahlil Corporation has GAAP net income of $ To compute Jahlil's AFSI, the following items may require adjustment:
Federal income tax expense for book purposes totals $
MACRS depreciation is $; book depreciation is $
Book net operating loss carryforwards total $
Required:
a Compute Jahlil Corporation's AFSI.
b If Jahlil's regular tax liability is $ compute the corporation's tentative minimum tax, AMT, and total taxility.
Compute tenative minimun tax, AMT, AND total tax liability for part b
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