For the current year ($ in millions), Centipede Corp. had $92 in pretax accounting income....
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Accounting
For the current year ($ in millions), Centipede Corp. had $92 in pretax accounting income. This included warranty expense of $7 and $20 in depreciation expense. 6 million of warranty costs were incurred, and MACRS depreciation amounted to $43. In the absence of other temporary or permanent differences, what was Centipede's income tax payable currently, assuming a tax rate of 40%?
Multiple Choice
34.0 Million
25.2 Million
28.0 Million
19.6 Million
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