CSQ Inc.reported $1,339,700 book income before tax this year.CSQ had $46,600 favorable permanent differences and $103,500 unfavorable temporary differences between book income and taxable income.Assuming a 35 percent tax rate,which of the following statements is true?
A) CSQ's tax payable is $448,980.
B) CSQ's tax expense per books is $452,585.
C) CSQ's tax payable is $505,120.
D) CSQ's tax expense per books is $485,205.
Correct Answer:
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