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The payment represents rent for the years 2022 and 2023, the period covered by the lease. Sunland Company is a cash basis taxpayer. Sunland has
The payment represents rent for the years 2022 and 2023, the period covered by the lease. Sunland Company is a cash basis taxpayer. Sunland has income tax payable of $224000 at the end of 2021 , and its tax rate is 25%. What amount of income tax expense should Sunland Company report at the end of 2021 ? $206000 $188000 $260000 $116000
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