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Summit Inc. has a deferred tax liability of $42,000 on December 31, 2025. On December 31, 2026 the balance in the account is $15.000. The

Summit Inc. has a deferred tax liability of $42,000 on December 31, 2025. On December 31, 2026 the balance in the account is $15.000. The corporation's current tax expense is $50,000. What amount should Summit report on their financial statement as 2026 tax expense?

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