Question 6 of 10 07 10 The following information has been obtained for Nash Corporation. 1. 2. 3. Prior to 2020, taxable income and pretax financial income were identical, Pretax financial income is $1.662.000 in 2020 and 51,477,000 in 2021. On January 1, 2020, equipment costing $1.292.000 is purchased. It is to be depreciated on a straight-line basis over 5 years for tax purposes and over 8 years for financial reporting purposes. (Hint: Use the half-year convention for tax purposes, as discussed in Appendix 11A) Interest of $54.000 was earned on tax-exempt municipal obligations in 2021. Included in 2021 pretax financial income is again on discontinued operations of $214.000, which is fully tacable. The tax rate is 20% for all periods. Taxable income is expected in all future years, 5. 6. 7. (a) * Your answer is incorrect Compute taxable income and income taxes payable for 2021. $ 1455300 Taxable income Income taxes payable $ 291060 e Textbook and Media List of Accounts Attempts: 1 of 3 used Submit. An Sve for Later e Textbook and Media List of Accounts Save for Later Attempts: 1 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above. II O E 7 > e to search Laura Palmberg 470 975-11lo SL