For the year ended december 31, 20x8, fox co.'s pretax financial statement income was $200,000 and its taxable income was $150,000. the difference is due to the following: • premium on officer's life insurance with fox as owner and beneficiary $70,000 • interest received on municipal bonds 20,000 the enacted tax rate for 20x8 is 30% and 25% thereafter. in its 20x8 income statement, what amount should fox report as current provision for income tax expense?
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For the year ended december 31, 20x8, fox co.'s pretax financial statement income was $200,000 and i...
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