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Green Corporation reported pretax book income of $1,008,000. During the current year, the net reserve...

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Accounting

Green Corporation reported pretax book income of $1,008,000. During the current year, the net reserve for warranties increased by $50,400. In addition, tax depreciation exceeded book depreciation by $102,000. Finally, Green subtracted a dividends received deduction of $25,200 in computing its current year taxable income. Green's cash tax rate is:

  1. 21%.
  2. 20.48%.
  3. 19.95%.
  4. 19.40%.

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