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Kensington had this info at the end of 2023, its first year of operations: Pretax book income Accrued expense Excess of tax over book depreciation
Kensington had this info at the end of 2023, its first year of operations: Pretax book income Accrued expense Excess of tax over book depreciation Interest Income on municipal bonds $ 800,000 200,000 300,000 100,000 No other permanent or temporary differences exist. The accrued expense will be paid in 2026; the depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable. The 12/31/23 Income Tax Payable is: Select one: O a $60,000 O b. $240,000 O c. $210,000 O d. $180,000 O e. $360,000
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