Information for Illini Corp. for the year 2018: Reconciliation of pretax accounting income and taxable...
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Information for Illini Corp. for the year 2018: Reconciliation of pretax accounting income and taxable income: Pretax accounting income Permanent differences $186,000 (15,000) 171,000 (11,500) $159,500 Temporary difference-depreciation Taxable income Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2017 As of December 31, 2018 $13,700 $25,200 The enacted tax rate was 38% for 2017 and thereafter. What would Illini's income tax expense be in the year 2018? 3, 2018 $25,200 The enacted tax rate was 38% for 2017 and thereafter. What would Illini's income tax expense be in the year 2018? Multiple Choice $64980 O $65.480 $60,610 None of these answer choices are correct
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