The following information is available for Headland Corporation for 2024 (its first year of operations). 1. 2. 3. 4. (a) Excess of tax depreciation over book depreciation, $41,000. This $41,000 difference will reverse equally over the years 2025-2028. Deferral, for book purposes, of $19,900 of rent received in advance. The rent will be recognized in 2025. Pretax financial income, $291,500. Tax rate for all years, 30%. Compute taxable income for 2024. Taxable income $

The following information is avallable for Headland Corporation for 2024 (its first year of operations). 1. Excess of tax depreciation over book depreciation, $41,000. This $41,000 difference will reverse equally over the years 2025-2028. 2. Deferral, for book purposes, of $19,900 of rent received in advance. The rent will be recognized in 2025 . 3. Pretax financial income, $291,500. 4. Tax rate for all years, 30% (a) Compute taxable income for 2024. Taxable income