(Future income taxes, LO 7) Use the following information to calculate the balance in the future income...
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(Future income taxes, LO 7) Use the following information to calculate the balance in the future income tax account for a building owned by the entity:
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Cost of the machine when it was purchased: $10,000,000 Total amount of CCA deducted since the machine was purchased: 4,610,000 Total amount of amortization expensed since the machine was purchased: 3,575,000 Tax rate: 40%
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