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A company failed to record unrealized gains of $23 million on its trading security investments....

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Accounting

A company failed to record unrealized gains of $23 million on its trading security investments. Its tax rate is 35%. As a result of this error, total shareholders' equity would be

(Round million answer to 2 decimal places.) Multiple Choice:

A.Understated by $14.95 million.

B. Understated by $23.00 million.

C. Understated by $8.05 million.

D.Unaffected

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