Business
Business, 13.03.2020 06:04, chloiesierra29

Angel Corporation reported pretax book income of $1,030,000. During the current year, the net reserve for warranties increased by $29,500. In addition, tax depreciation exceeded book depreciation by $107,500. Finally, Angel subtracted a dividends received deduction of $31,000 in computing its current-year taxable income. Angel's hypothetical tax expense in its reconciliation of its income tax expense is:

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Angel Corporation reported pretax book income of $1,030,000. During the current year, the net reserv...

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