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Question 22 A points Jackson Company purchased a machine for $70,000 in 2019 This machine has a 6-year useful ife, a residual value of
Question 22 A points Jackson Company purchased a machine for $70,000 in 2019 This machine has a 6-year useful ife, a residual value of $10.000, and is depreciated using the straight-line method for financial statement purposes. For tax purposes, depreciation expense was $25,000 for 2019 and $20,000 for 2020, Jackson's 2020 income, before income taxes and depreciation expense was $100,000 and its tax rate was 30% If Jackson madeho estimated tax payments during 2020 what amount of cument income tax saboty would Floss report in its December 31, 2020 balance sheet? OA $26.400 C$25.800 OC$22.500 00 $24,000
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