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Question 6 1 pts Leo, Inc. had pre-tax accounting income of $3,000,000 and a tax rate of 21% in 2021, its first year of operations.
Question 6 1 pts Leo, Inc. had pre-tax accounting income of $3,000,000 and a tax rate of 21% in 2021, its first year of operations. During 2021 the company had the following transactions: Received rent from Jeff, Co. for 2022 $ 175,000 $ 60,000 Municipal bond income (non-taxable) Depreciation for tax purposes in excess of book depreciation Installment sales profit to be taxed in 2022 $ 30,000 $ 200,000 For 2021, what is the amount of income tax expense for Leo, Inc? $605,850 $617,400 O $569,100 O $654,150
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