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Please provide step by step question so i can better understand. Thank you! ABC began operations in 2018 and reported $15462 in income before income
Please provide step by step question so i can better understand. Thank you!
ABC began operations in 2018 and reported $15462 in income before income taxes for the year. ABC's 2018 tax depreciation exceeded its book depreciation by $626. ABC also had nondeductible book expenses of $448 related to permanent differences. ABC's tax rates are 36% for 2018, and 35% thereafter. In its December 31, 2018, balance sheet, what amount of deferred income tax liability should ABC report? Answer: 15629.54 XStep by Step Solution
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