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Pretax financial statement income tor the year ended December 1, 2021, was 50 millon tor Patrick Company. Patrick's taxable income was 40 million. This was
Pretax financial statement income tor the year ended December 1, 2021, was 50 millon tor Patrick Company. Patrick's taxable income was 40 million. This was a result of differences between depreciaton for financial reporting purposes and tax purposes. The enacted tax rate is 25% for 2021 and 30% thereafter. What amount should Patrick report as the current portion of income tax expense for 2021?
$12 million
12.5 million
10 million
15 million
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