Fleming Company has the following cumulative taxable temporary differences: The tax rate enacted for 2015 is 40%, while the tax rate enacted for future years is 30%. Taxable income for 2015 is $3,200,000 and there are no permanent differences. Fleming's pretax financial income for 2015 is:

Question

Fleming Company has the following cumulative taxable temporary differences:  The tax rate enacted for 2015 is 40%, while the tax rate enacted for future years is 30%. Taxable income for 2015 is $3,200,000 and there are no permanent differences. Fleming's pretax financial income for 2015 is:

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The Answer of Fleming Company has the following cumulative taxable temporary differences:  The tax rate enacted for 2015 is 40%, while the tax rate enacted for future years is 30%. Taxable income for 2015 is $3,200,000 and there are no permanent differences. Fleming's pretax financial income for 2015 is:

Fleming Company Has the Following Cumulative Taxable Temporary Differences