41. LO.9 In the current year, Pelican, Inc., incurs $50,000 of nondeductible fines and penalties. Its depreciation

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41. LO.9 In the current year, Pelican, Inc., incurs $50,000 of nondeductible fines and penalties. Its depreciation expense is $245,000 for financial statement purposes and $310,000 for tax purposes. How is this information reported on Schedule M–3?

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