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List Corporation reported pretax accounting income of $90,000, but due to temporary differences, taxable income is only $50,000. Assuming a tax rate of 40%, the
List Corporation reported pretax accounting income of $90,000, but due to temporary differences, taxable income is only $50,000. Assuming a tax rate of 40%, the income statement should report net income of:
Multiple Choice
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$20,000
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$36,000
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$54,000
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$16,000
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