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o PI:11-42 (similar to) Consider the following independent scenarios: (Click the icon to view the scenarios.) Requirement In light of the economic performance requirement, how
o PI:11-42 (similar to) Consider the following independent scenarios: (Click the icon to view the scenarios.) Requirement In light of the economic performance requirement, how much is deductible by the following accrual-basis corporate taxpayers this year? (Complete all input fields. Enter a "O" if none of the amount is currently deductible.) Current year deduction Cairo Corporation sells products with a one-year warranty. Cairo estimates that the warranty costs on products sold during this year will amount to $98,000. Cairo performs $32,000 of warranty work on products sold last year and $28,000 of warranty work on products sold this a. Lyear. Bryant Corporation agrees to pay $15,000 this year and $15,000 next year to a software developer. The developer completes all work on the software and delivers the product to Bryant b. this year. Tinder Corporation pays $3,500 to a supplier to guarantee delivery of raw materials. The $3,500 C. is refundable if Tinder decides not to acquire the materials. This year Polly Corporation pays a $3,200 security deposit on space it rents for a new office. In addition, Polly pays current year rent of $17,000. The security deposit is refundable if the d. property is returned in good condition
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