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Q10. ch16 Prince Corporation's partial income statement at the end of 2011, its first year of operations, is as follows: Income before income taxes Income
Q10. ch16 Prince Corporation's partial income statement at the end of 2011, its first year of operations, is as follows: Income before income taxes Income tax expense $3,500,000 $966,000 Current Deferred Net income 84,000 1,050,000 $2,450,000 Princes uses SL depreciation for book and accelerated dep for tax. Depreciation expense for book in 2011 was $1,400,000 No other differences between pretax and taxable income Tax rate 30% Compute depreciation for tax in 2011
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