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The following information is provided for a firm: ($'million) Year 1 2 3 Operating profit $325 $309 $330 Capital expenditures $77 $68 $50 Depreciation expenses
The following information is provided for a firm: ($'million) Year 1 2 3
Operating profit $325 $309 $330
Capital expenditures $77 $68 $50
Depreciation expenses $8 $7 $6
Taxes, GAAP $4 $3 $4
Taxes, IRS -$1.5 $3.8 $5.2
How much will the firm report in its deferred taxes liability account in year 3?
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