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QUESTION 17 (5 points) CMFI, Inc. reported U.S. GAAP income before taxes of $2,930,000 and taxable income of $2,198,000 for 2020. The difference was caused

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QUESTION 17 (5 points) CMFI, Inc. reported U.S. GAAP income before taxes of $2,930,000 and taxable income of $2,198,000 for 2020. The difference was caused by a temporary difference that will reverse in 2021. How much should CMFI, Inc. report as the net deferred asset or liability for 2020, assuming the enacted tax rate was 35% in 2020 and 40% in 2021? (NIE 2) $256,200 deferred tax asset o $256,200 deferred tax liability $292,800 deferred tax asset $292,800 deferred tax liability

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