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Question 14 On January 1, 2018, Crane, Inc. purchased a machine for $2360000 which will be depreciated $236000 per year for financial statement reporting purposes.
Question 14 On January 1, 2018, Crane, Inc. purchased a machine for $2360000 which will be depreciated $236000 per year for financial statement reporting purposes. For income tax reporting Crane elected to expense $261000 and to use straight-line depreciation which will allow a cost recovery deduction of $211000 for 2018. Assume a present and future enacted income tax rate of 30%, what amount should be added to Crane's deferred income tax liability for this temporary difference at December 31, 2018? $78300 $141600 $70800 o $63300 Click if you would like to Show Work for this question: Open Show Work
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