Business, 10.03.2020 07:50, jtamika31

Pretax accounting income for the year ended December 31, 2018, was $50 million for Truffles Company. Truffles taxable income was $60 million. This was a result of differences between straight-line depreciation for financial reporting purposes and MACRS for tax purposes. The enacted tax rate is 30% for 2018 and 40 % thereafter. What amount should Truffles report as the current portion of income tax expense for 2018? (Round your answer to the nearest whole million.) Multiple Choice $15 million $18 million $20 million $24 million

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Pretax accounting income for the year ended December 31, 2018, was $50 million for Truffles Company....