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Kantner, Inc., a domestic corporation, reported two permanent differences between book and taxable income. It earned $ 7 , 8 0 0 in tax -
Kantner, Inc., a domestic corporation, reported two permanent differences between book and taxable income. It earned $ in taxexempt municipal bond interest, and reported $ of nondeductible entertainment expenses. Kantner's book income before tax is $ Assume a Federal corporate tax rate, no state or foreign taxes, and no need for a valuation allowance.
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