TarHeel Corporation reported pretax book income of $1,040,000. During


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TarHeel Corporation reported pretax book income of $1,040,000. During the current year, the net reserve for warranties increased by $102,000. In addition, tax depreciation exceeded book depreciation by $210,000. Finally, TarHeel subtracted a dividends rec

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TarHeel Corporation reported pretax book income of $1,040,000. During
the current year, the net reserve for warranties increased by $102,000. In addition, tax depreciation exceeded book depreciation by $210,000. Finally, TarHeel subtracted a dividends received deduction of $58,000 in computing its current year taxable income. TarHeel's accounting effective tax rate is:

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