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Problem 19-2 (Part Level Submission) The pretax financial income of Truttman Company differs from its taxable income throughout each of 4 years as follows. Pretax
Problem 19-2 (Part Level Submission) The pretax financial income of Truttman Company differs from its taxable income throughout each of 4 years as follows. Pretax Financial Income Taxable Income Year Tax Rate $188,600 $298,200 2014 36 2015 326,800 228,400 42 2016 262,900 42 356,400 427,500 2017 560,400 42 Pretax financial income for each year includes a nondeductible expense of $31,800 (never deductible for tax purposes). The remainder of the difference between pretax financial income and taxable income in each period is due to one depreciation temporary difference. No deferred income taxes existed at the beginning of 2014
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