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The effective tax rate is 40 compute the amount to be

1. In 2010, Amir ante Corporation had pretax financial income of $168,000 and taxable income of $120,000. The difference is due to the use of different depreciation methods for tax and accounting purposes. The effective tax rate is 40%. Compute the amount to be reported as income taxes payable at December 31, 2010.

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Accounting Basics: The effective tax rate is 40 compute the amount to be

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