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The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's taxable income ($ in millions) is:
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The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's taxable income ($ in millions) is:

User GPrimola
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1 Answer

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Answer: $160

Step-by-step explanation:

Taxable income = Pretax income + (Non deductible expenses) - Deductible expenses

= Pretax income + Overweight fees + Depreciation expense - Depreciation in the tax return

= 195 + 5 + 70 - 110

= $160

The applicable tax rate is 25%. There are no other temporary or permanent differences-example-1
User Daniel Rafael Wosch
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