Business, 27.09.2019 00:00 lex2678

Phyllis, inc., earns book net income before tax of $600,000. phyllis puts into service a depreciable asset this year, and first year tax depreciation exceeds book depreciation by $120,000. phyllis has recorded no other temporary or permanent book-tax differences. assuming that the u. s. tax rate is 21%, what is phyllis's total income tax expense reported on its gaap financial statements?
a. $252,000b. $210,000c. $168,000d. $42,000

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Phyllis, inc., earns book net income before tax of $600,000. phyllis puts into service a depreciable...