44 During the current year, a company had pretax accounting...
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Accounting
44
During the current year, a company had pretax accounting income of $35 million. The only difference between pretax accounting income and taxable income for the year was rent received in advance by the company in the amount of $9 million. The rent will be earned for financial accounting purposes next year. The tax rate is 35%. Income tax payable for the current year is: (Click to select) Click to select $4400 million 521 25 million $15 40 million 59. 10 million
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