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On October 1 , Poe Corporation s operating plant located in Kansas was destroyed by an earthquake. The portion of the resultant loss not covered

On October 1, Poe Corporations operating plant located in Kansas was destroyed by an earthquake. The portion of the resultant loss not covered by insurance was $1.4 million. Poes income tax rate for the year is 40%. In Poes income statement for the year ended December 31, this event should be reported as an unusual and infrequent loss of

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