The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): Pretax accounting income: $ 160 Pretax accounting income included: Overweight fines (not deductible for tax purposes) 8 Depreciation expense 80 Depreciation in the tax return using MACRS: 119 The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's taxable income ($ in millions) is: Multiple Choice $39. $129. $121. $119.
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Ответ:
$129
Explanation:
Pretax accounting income: $ 160
Overweight fines (not deductible for tax purposes) 8
Depreciation expense 80
Depreciation in the tax return using MACRS: 119
Franklin's taxable income ($ in millions) = $160 + $8 - ($119 - $80) =
Ответ:
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