Purrfect pet industries income before taxes is 800000 and, Accounting Basics

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Purrfect pet industries income before taxes is 800000 and

Problem

Purrfect Pet Industries' income before taxes is $800,000 and its tax rate is 40%. Purrfect Pet included $50,000 of fully deductible inter-corporate dividends received in the? $800,000. There are no other book-tax differences. What is the income tax liability for Purrfect Pet?

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Accounting Basics: Purrfect pet industries income before taxes is 800000 and

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