39. LO.9 In the current year, Woodpecker, Inc., a C corporation with $8,500,000 in assets, deducted amortization

Question:

39. LO.9 In the current year, Woodpecker, Inc., a C corporation with $8,500,000 in assets, deducted amortization of $40,000 on its financial statements and

$55,000 on its Federal tax return. Is Woodpecker required to file Schedule M–3? If a Schedule M–3 is filed by Woodpecker, how is the difference in amortization amounts treated on that schedule?

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