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Taylor Company began manufacturing operations on January 2, 2018. During 2018 Taylor reported pre-tax book income of $150,000 and had taxable income of $200,000. Taylor
Taylor Company began manufacturing operations on January 2, 2018. During 2018 Taylor reported pre-tax book income of $150,000 and had taxable income of $200,000. Taylor had a temporary difference relating to accrued product warranty costs which are expected to be paid as follows:
2019 | $ | 30,000 | |
2020 | $ | 15,000 | |
2021 | $ | 5,000 | |
Income tax expense for 2018 is:
Multiple Choice
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$43,000.
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$65,000.
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$67,000.
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$45,000.
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