Plutonic Inc.had $400 million in taxable income for the current year.Plutonic also had a decrease in deferred tax assets of $50 million and recognized tax expense of $80 million.The company is subject to a tax rate of 40%.The change in deferred tax asset was a/an:
A) increase of $30 million.
B) increase of $130 million.
C) decrease of $30 million.
D) decrease of $130 million.
Correct Answer:
Verified
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