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The 2014 Form 10-k of ABC company disclosed $1,000 million related to various deferred tax assets. The 2013 deferred tax assets had a balance of
The 2014 Form 10-k of ABC company disclosed $1,000 million related to various deferred tax assets.
The 2013 deferred tax assets had a balance of $1,061 million.
What effect did this decrease in deferred tax assets have on XYZ's net income in 2014?
A) Decrease net income by $1,000 million
B) Increase net income by $1,000 million
C) Increased net income by $61 million
D) Decrease net income by $61 million
Please show me the answer and the caclulation process.
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