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Johnson Corp reports municipal bond interest income as other income on its income statement. What book-tax difference will result? A. Permanent Difference; book income is

Johnson Corp reports municipal bond interest income as other income on its income statement. What book-tax difference will result?

A. Permanent Difference; book income is less than taxable income B. Temporary Difference; book income is less than taxable income C. Temporary Difference; book income is greater than taxable income D. Permanent Difference; book income is greater than taxable income

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