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Business, 27.12.2019 01:31 lol6998

Giada foods reported $910 million in income before income taxes for 2018, its first year of operations. tax depreciation exceeded depreciation for financial reporting purposes by $85 million. the company also had non-tax-deductible expenses of $68 million relating to permanent differences. the income tax rate for 2018 was 35%, but the enacted rate for years after 2018 is 40%. the balance in the deferred tax liability in the december 31, 2018, balance sheet is: a. $35 million. b. $16 million. c. $40 million. d. $56 million.

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Giada foods reported $910 million in income before income taxes for 2018, its first year of operatio...
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