period cost in accordance with FASB Staff Q&A, Topic 740, No. 5, 0 Accounting for Global Intangible LowTaxed lncome, which states that a company may elect an accounting policy to either treat the taxes due on future U.S. taxable income related to the GILT] provision as a currentperiod expense or factor those amounts into their measurement of deferred taxes. 9 The U.S. Federal statutory rate is 21 percent. Required: 9 Should Coffee release any portion of its VA? Explain Why or why not