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Business, 17.08.2019 23:10 smoov23

Giada foods reported $940 million in income before income taxes for 2018, its first year of operations. tax depreciation exceeded depreciation for financial reporting purposes by $100 million. the company also had non-tax-deductible expenses of $80 million relating to permanent differences. the income tax rate for 2018 was 35%, but the enacted rate for years after 2018 is 40%. the balance in the deferred tax liability in the december 31, 2018, balance sheet is:

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