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Business, 27.07.2019 03:10 ghwolf4p0m7x0

Burcham corporation reported pretax book income of $600,000. tax depreciation exceeded book depreciation by $400,000. in addition, the company received $300,000 of tax-exempt municipal bond interest. the company’s prior-year tax return showed taxable income of $50,000. compute the company’s book equivalent of taxable income. use this number to compute the company’s total income tax provision or benefit.

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Burcham corporation reported pretax book income of $600,000. tax depreciation exceeded book deprecia...
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