Business, 09.06.2020 08:57 nanda22

XYZ began operations in 2018. The company reported $128,000 of depreciation expense on its income statement in 2018 and $84,000 in 2019. On its tax returns, the company deducted $192,000 for depreciation in 2018 and $112,000 in 2019. The 2019 tax return shows a tax obligation (liability) of $132,000 based on a 25% tax rate. Calculate the income tax expense for 2019.

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XYZ began operations in 2018. The company reported $128,000 of depreciation expense on its income st...

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