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Alamo Inc. had $300 million in taxable income for the current year. Alamo also had...

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Accounting

Alamo Inc. had $300 million in taxable income for the current year. Alamo also had a decrease in deferred tax assets of $30 million and an increase in deferred tax liabilities of $60 million. The company is subject to a tax rate of 40%. The total income tax expense for the year was:

Multiple Choice

$390 million.

$180 million.

$210 million.

$150 million.

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