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Scenario: Company has a deferred compensation plan which pays $0 for 2 years and...

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Accounting

Scenario:
Company has a deferred compensation plan which pays $0 for 2 years and then $2,100
in Year 3. For Year 4 onward, pays $700 annually.
Tax allows deduction for amount actually paid.
GAAP accrues salary expense in Years 1 and 2.
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