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The pretax accounting income (AI) for Yeager Industries was $20 million in the year 2018. Yeager's taxable income (TI) was $25 million. The cumulative temporary

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The pretax accounting income (AI) for Yeager Industries was $20 million in the year 2018. Yeager's taxable income (TI) was $25 million. The cumulative temporary difference as of the end of 2018 was 10 million. The difference was due to differences between depreciation for financial reporting purposes and tax purposes. The beginning balance of Deferred Tax Liability (DTL) in 2018 was 6 million. The enacted tax rate is 40%. Which of the following is correct in the Journal entry of 2018? Multiple Choice Debit to Income Tax Expense (ITE) of $10 million Debit to Deferred Tax Liability (DTL) of $2 million Credit to Income Tax Payable (ITP) of $8 million Debit to Income Tax Expense (ITE) of $4 million

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