Prance, Inc., earns pretax book net income of $1,648,500 in 2018. Prance acquires a depreciable asset that year, and first-year tax depreciation exceeds book depreciation by $164,850. Prance reported no other temporary or permanent book-tax differences. The relevant U. S. tax rate is 21%, and Prance earns an after-tax rate of return on capital of 8%.
a. Compute Prance's total income tax expense, current income tax expense, and deferred income tax expense.

Explanation:

The computation is shown below:

Given that

Earns pretax book net income = $1,648,500

Amount exceed = $164,850

U.S tax rate = 21%

Earns After tax rate of return on capital = 8%

So, the calculations are

Total Income Tax Expenses

= $1,648,500 × 21%

= $346,185

Current Income Tax expense = ($1,648,500 - $164,850) × 21%

= $311,566.50

And, the Deferred Income Tax Expense = $164,850 × 21%

= $34,618.50

answer; /// the best answer to the above question is; the main economic goal that a society consider when deciding the best way to distribute its wealth is equity, this to ensure that all resources are equally distributed; ///(a) (economic equity)

x=3

step-by-step explanation:

this is really simple i saw that there was only one term (5x) and thought if that was 15 what would i have to multiply everything else to get it there? well if 5x became 15 then x would have to be 3 so plug the 3 in the x for the other equations and you get 15 for the other ones. so there you go. : )