Business, 28.10.2020 17:00 Ciarrathereal

A company had a pretax accounting income of $20 million this year. This included the collection of $100 million of life insurance proceeds when several key executives died in a plane crash. This collection is not recognized as a gain for tax purposes (permanent difference). Temporary differences for the current year netted out to zero. The company has a 20% tax rate and plans to record a DTA (operating loss carryforward) for tax purposes. In the current year, the Company will report a net income of:

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A company had a pretax accounting income of $20 million this year. This included the collection of $...

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