Question 19

Krasco Inc.'s auditors prepared the following reconciliation between book and taxable income. The corporation has a 21% tax rate. Book income before tax $9,288,900 Net permanent differences (135,770) Net temporary differences 12,400 Taxable income $9,165,530 Compute Krasco's tax expense per books and tax payable.

Group of answer choices

Tax expense per books is $1,922,157, tax payable is $1,924,761.

Tax expense per books is $1,950,669, tax payable is $1,924,761.

Tax expense per books is $1,950,669, tax payable is $1,922,157.

All answers are incorrect.