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Business, 31.12.2019 01:31 erjalinalii

In its annual income statement, fox co. reported incomebefore income taxes of $300,000. foxestimated that, because of permanent differences, taxable income would be $280,000, and during the year fox made estimated tax payments of $50,000, which were debitedto income tax expense. fox is subject to a 30% tax rate. what amount should fox report as income tax expense?

a. $50,000
b. $84,000
c. $34,000
d. $90,000

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In its annual income statement, fox co. reported incomebefore income taxes of $300,000. foxestimated...
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