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Packard Corporation reported pretax book income of $501,300. Included in the computation were favorable temporary differences of $11,300, unfavorable temporary differences of $101,300, and unfavorable
Packard Corporation reported pretax book income of $501,300. Included in the computation were favorable temporary differences of $11,300, unfavorable temporary differences of $101,300, and unfavorable permanent differences of $90,650. Assuming a tax rate of 34%, the Corporation's current income tax expense or benefit would be: $170,442. $177,905. $231,863. $109,021.
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