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Martin Corporation sold business equipment with an adjusted $600,000 book basis and a - 0 - tax basis for $650,000 cash. This was Martin's only
Martin Corporation sold business equipment with an adjusted $600,000 book basis and a - 0 - tax basis for $650,000 cash. This was Martin's only asset sale during the year. The sale results in: Select one: a. $600,000 favorable permanent book/tax difference b. $600,000 unfavorable temporary book/tax difference c. No book/tax difference d. $600,000 unfavorable permanent book/tax difference e. $600,000 favorable temporary book/tax difference
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