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The following facts relate to Tamarisk Corporation. 1. Deferred tax liability, January 1, 2020, $ 34,800. 2. Deferred tax asset, January 1, 2020, $ 11,600.
The following facts relate to Tamarisk Corporation. 1. Deferred tax liability, January 1, 2020, $ 34,800. 2. Deferred tax asset, January 1, 2020, $ 11,600. 3. Taxable income for 2020, $ 121,800. 4. Cumulative temporary difference at December 31, 2020, giving rise to future taxable amounts, $ 266.800. 5. Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, $ 110,200. 6. Tax rate for all years, 20%. No permanent differences exist. 7 The company is expected to operate profitably in the future. (a) Your answer is incorrect. Compute the amount of pretax financial income for 2020, Pretax financial income $
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