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Mozart inc's $98.000 taxable income for 20xt will be taxed at the 21% corporate tax rate for tax purposes, its depreciation expense exceeded the depreciation

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Mozart inc's $98.000 taxable income for 20xt will be taxed at the 21% corporate tax rate for tax purposes, its depreciation expense exceeded the depreciation used for financial reporting purposes by $27,000. Mozart has $45.000 of purchased goodwill on its books. during 20x1, the company determined that the goodwill had suffered a $3,000 impairment of value for financial reporting purposes None of the goodwill impairment is deductible for tax purposes Mozart purchased a three year corporate liablity insurance policy on July 1, 20x1, for $36,000 cash. The entire premium was deducted for tax purposes in 20X1 Required: 1 Determine Mozart's pre tax book income for 20x1 2. Determine the changes in Mozart's deferred tax amounts for 20X1 3 Calculate tax expense for Mozart Inc. for 20X1 Amount 1. Pre-tax book income 2 3 Income tax expense

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