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Laser Tech has net temporary differences between tax and book income resulting in a deferred tax liability of $30.6 million. According to U.S. GAAP, an
Laser Tech has net temporary differences between tax and book income resulting in a deferred tax liability of $30.6 million. According to U.S. GAAP, an increase in the tax rate would have what impact on deferred taxes and net income, respectively:
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A) Deferred Taxes = Decrease, Net Income = Increase
B) Deferred Taxes = No effect, Net Income = No effect
C) Deferred Taxes = Increase, Net Income = Decrease
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