The CFO of Merit Corporation wants to announce earnings. He knows that earnings Before Taxes amount to $12,900,000 The statutory tax rate is 28% He knows that GAAP EBT and Taxable income will differ for the following reasons. a. The Company received $500,000 from key man life insurance. b. The Company uses accelerated depreciation for tax purposes and tax depreciation expense was $100,000 more than the books. c. The Company got into a zoning dispute that was expensed at $50,000 d. The Company company's taxes disallow $75,000 in room and meals taxes. 1. Classify a-b-c-d as a permanent or temporary tax differences. 2. Calculate the tax expense as recorded on the books 3. Calculate the effective tax rate