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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

Sale price $15.00 Regular price $30.00

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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