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Problem 19-2 The pretax financial income of Bonita Company differs from its taxable income throughout each of 4 years as follows. Pretax Year Financial Income
Problem 19-2 The pretax financial income of Bonita Company differs from its taxable income throughout each of 4 years as follows. Pretax Year Financial Income Taxable Income Tax Rate $264,000 $190,000 35 2017 40 343,000 236,000 2018 40 2019 278,000 360,000 40 447,000 2020 535,000 Pretax financial income for each year includes a nondeductible expense of $30,600 (never deductible for tax purposes). The remainder of the difference between pretax financial income and taxable income in each period is due
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