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Pineapple Corporation has financial accounting book income of $3,816,000. Book income reflects $1,170,000 federal income tax expense and $495,000 depreciation expense. Tax depreciation expense computed
Pineapple Corporation has financial accounting book income of $3,816,000. Book income reflects $1,170,000 federal income tax expense and $495,000 depreciation expense. Tax depreciation expense computed under MACRS is $585,000. Pineapple received $225,000 of prepaid rent not included in book income. Based only on these items, compute Pineapple's taxable income. $5,301,000 O $5,121,000 O $4,671,000 O $4,851,000
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