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Business, 28.12.2019 04:31 yesharabaskoro

Fox co. reported $225,000 in income before income taxes for its first year with tax depreciation exceeding its book depreciation by $25,000. fox also had nondeductible book expenses of $10,000 related to permanent differences. fox's tax rate was 40%, and the enacted rate for future years is 35%. in its year-end balance sheet, what amount of deferred income tax liability should fox report?

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