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Pineapple Corporation has financial accounting book income of $1,696,000. Book income reflects $520,000 federal income tax expense and $220,000 depreciation expense. Tax depreciation expense computed
Pineapple Corporation has financial accounting book income of $1,696,000. Book income reflects $520,000 federal income tax expense and $220,000 depreciation expense. Tax depreciation expense computed under MACRS is $260,000. Pineapple received $100,000 of prepaid rent not included in book income. Based only on these items, compute Pineapple's taxable income. $2,356,000 $2,156,000 $2,276,000 O $2,076,000
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