Problem
What gross tux basis in MICI's assets (in dollars) would BT take (approximately)? Assume that all of MCI's deferred taxes relate to timing differences between book and tax depreciation (use the deferred tax data from the balance sheet. not the footnotes). Compute the basis as of June 30, 1997. (Use MCI's June 30, 1997 balance sheet and MCI's 12/31/97 income statement and footnotes as the basis for your computations.)
What ner tax hasis in MCT's assets would BT take?