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Woody Corp. had taxable income of $8,025 in the current year. The amount of depreciation reported in the tax return was $3,075, while the
Woody Corp. had taxable income of $8,025 in the current year. The amount of depreciation reported in the tax return was $3,075, while the amount of depreciation reported in the income statement was $1,075. Assuming no other differences between tax and accounting income, Woody's pretax accounting income was:
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