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Business, 28.05.2021 15:10 Kittylover65

g Pioneer Natural reported pretax accounting income of $860 million for the current year. Depreciation reported in the tax return in excess of depreciation in the income statement was $1,140 million. The excess tax will reverse itself evenly over the next three years. The current year's tax rate of 25% will be reduced under the current law to 30% next year and 35% for all subsequent years. At the end of the current year, the deferred tax liability related to the excess depreciation will be:

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g Pioneer Natural reported pretax accounting income of $860 million for the current year. Depreciati...
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