Question 16Martinez financial income for Lake Inc is $260000 and
its taxable income is $90000 for 2018 Its only temporary difference at the end of the period relates to a $90000 difference due to excess depreciation for tax purposes. If the tax rate is 39% for all periods, compute the amount of income tax expense to report in 2018. No deferred income taxes existed at the beginning of the year.
Income tax expense
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