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please show all work 1 points Save Answe estion 2 Gamma Co. began operations in 2021 and reported $400,000 in income before income taxes for
please show all work
1 points Save Answe estion 2 Gamma Co. began operations in 2021 and reported $400,000 in income before income taxes for the year. Gamma's 2021 tax depreciation exceeded its book depreciation by S100,000 Gamma also had nondeductible book expenses of $20,000 related to permanent differences. Gamma's tax rate for 2021 was 25%, and the enacted rate for years after 2021 is 30%. In its December 31, 2021, balance sheet, the amount of deferred income tax liability Gamma reports would be: (Do not add dollar sign; do not add comma by yourself to your amount; round the answer to the whole number)Step by Step Solution
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