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Sheridan Corporation began operations in 2025 and reported pretax financial income of $225,000 for the year. Sheridan's tax depreciation exceeded its book depreciation by $44,000.
Sheridan Corporation began operations in 2025 and reported pretax financial income of $225,000 for the year. Sheridan's tax depreciation exceeded its book depreciation by $44,000. Sheridan's tax rate for 2025 and years thereafter is 40%. In its December 31, 2025, balance sheet, what amount of deferred tax liability should be reported? Deferred tax liability to be reported $
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