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Thge 2013 annual report of Dow Chemical desclosed the following: Deferred tax assets decreased by $3 million and deferred tax liabilities decreased by $45 million.
Thge 2013 annual report of Dow Chemical desclosed the following: Deferred tax assets decreased by $3 million and deferred tax liabilities decreased by $45 million. How do these balance sheet changes affect tax expense on the income statement for the year?
A.) Decrease tax expense by $42 million.
B.) Decrease tax expense by $48 million.
C.) Increase tax expense by $42 million.
D.) None of the above.
E.) Increase tax expense by $48 million.
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