QUESTION 11 The Tax Cuts and Jobs Act was signed into law on December 22, 2017, reducing the corporate tax rate from 35% to 21%. As a result, which of the following U.S.-based corporations is likely to report a deferred tax benefit related to the re-measurement of DTA/DTL in 2017? OA financial institution with large balances of deferred tax assets due to net operating loss carryforward from the 2007-2009 financial crisis years. Ob-A capital intensive manufacturing company with large balances of deferred tax liability due to accelerated tax depreciation. A medium-sized retailer with small balances of deferred tax assets and deferred tax liability. QUESTION 12 At the beginning of 2021, Smartlabel Corporation had accumulated E&P of $200.00. During 2021, Smartlabel has current E&P deficit of (400,000), if Smartlabel distributed $200,000 to its shareholder on June 30, how much of the distribution will be characterized as dividend? 07.50. Ob $200,000. O$100.000 Od-$50.000.