Multiple Choice Question 66 Pharoah Corporation prepared the following reconciliation for its first year of operations: Pretax financial income for 2018 $2000000 (154000) (358000) Tax exempt interest Originating temporary difference $1488000 Taxable income The temporary difference will reverse evenly over the next 2 years at an enacted tax rate of 40%. The enacted tax rate for 2018 is 28% What amount should be reported in its 2018 income statement as the deferred portion of income tax expense? $800000 credit $143200 credit $595200 debit $560000 debit Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWE