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Question The following information relates to Fairview Freightways for its first year of operations (data in millions of dollars): $214 Pretax accounting income: Protax accounting
Question The following information relates to Fairview Freightways for its first year of operations (data in millions of dollars): $214 Pretax accounting income: Protax accounting income included: Overweight fines (not deductible for tax purposes) Depreciation expense Depreciation in the tax return 6 40 70 The applicable tax rate is 25%. There are no other temporary or permanent differences. Fairview's net income (S in millions) is: (Do not add dollar sign, do not add comma by yourself to your amount; round the answer to the whole number)
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