Monty Corporation has one temporary difference at the end of 2020 that will reverse and cause taxable amounts of $58,100 in 2021, $62,900 in 2022, and $68,000 in 2023. Monty's pretax financial income for 2020 is $320,800, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2020. (a) Your answer is correct. Compute taxable income and income taxes payable for 2020. Taxable income 131800 Income taxes payable $ 39540 Activate Windo Go to Settings 0