Question
The current portion of the ISSACHAR CORP. tax provision was $4,900,000. A $1,500,000 increase in DTL related to depreciation and there was no change to
The current portion of the ISSACHAR CORP. tax provision was $4,900,000. A $1,500,000 increase in DTL related to depreciation and there was no change to the DTA balance. ISSACHAR had $100,000 of interest income from a portfolio of municipal bonds and expenses of $875,000 for COLI. Assuming that the tax rate was 25%, what was Net Income? What was the ETR?
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Entrepreneurial Financial Management An Applied Approach
Authors: Jeffrey R. Cornwall, David O. Vang, Jean M. Hartman
4th Edition
0765646854, 978-0765646859
