Business, 28.01.2021 20:40, zoejacobs2002

In 2020, HD had reported a deferred tax asset of $218 million with no valuation allowance. At December 31, 2021, the account balances of HD Services showed a deferred tax asset of $280 million before assessing the need for a valuation allowance and income taxes payable of $112 million. HD determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. HD made no estimated tax payments during 2021. What amount should HD report as income tax expense in its 2021 income statement? (Round your calculations to the nearest whole million.) Multiple Choice $66 million $112 million $134 million $180 million

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In 2020, HD had reported a deferred tax asset of $218 million with no valuation allowance. At Decemb...