Business, 10.04.2020 22:57 Niktorres560Luckynik

For the current year ($ in millions), Centipede Corp. had $80 in pretax accounting income. This included warranty expense of $6 and $20 in depreciation expense. Two million of warranty costs were incurred, and MACRS depreciation amounted to $35.

In the absence of other temporary or permanent differences, what was Centipede's income tax payable currently, assuming a tax rate of 40%?

a. 19.6 million.

b. 27.6 million.

c. 29.2 million.

d. 25.2 million

Answers: 3

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For the current year ($ in millions), Centipede Corp. had $80 in pretax accounting income. This incl...