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Business, 05.05.2020 08:00 bonnysvalentine

On January 1, 2018, Gore, Inc. purchased a machine for $2,250,000 which will be depreciated $225,000 per year for financial statement reporting purposes. For income tax reporting, Gore elected to expense $250,000 and to use straight-line depreciation which will allow a cost recovery deduction of $200,000 for 2018. Assume a present and future enacted income tax rate of 30%. What amount should be added to Gore's deferred income tax liability for this temporary difference at December 31, 2018

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On January 1, 2018, Gore, Inc. purchased a machine for $2,250,000 which will be depreciated $225,000...

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