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Plutonic Inc. had $460 million in taxable income for the current year. Plutonic also had an increase in deferred tax liabilities of $56 million and
Plutonic Inc. had $460 million in taxable income for the current year. Plutonic also had an increase in deferred tax liabilities of $56 million and recognized tax expense of $92 million. The company is subject to a tax rate of 25%. The change in deferred tax assets (ignoring any valuation allowance) was a/an: Multiple Choice increase of $79 million. increase of $36 million. decrease of $36 million. decrease of $79 million
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