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Stone Corporation reported pretax book income of $1,010,000 in 2015. Tax depreciation exceeded book depreciation by $301,000. In addition, the reserve for bad debts decreased
Stone Corporation reported pretax book income of $1,010,000 in 2015. Tax depreciation exceeded book depreciation by $301,000. In addition, the reserve for bad debts decreased by $55,000. Stone had a net deferred tax asset of $30,000 at the beginning of the year, representing a net deductible temporary difference of $101,000. During the year, the company's tax rate increased from 29% to 30%. Compute the Company's current and deferred income tax expense or benefit for 2015
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