Reardon Inc. has an investment in trading securities of $120,000. This investment experienced an unrealized loss of $6,000 during the current year. Assuming a 35% tax rate, the effect of this loss on comprehensive income will be
A) no effect.
B) $120,000 increase.
C) $42,000 decrease.
D) $78,000 decrease.
Correct Answer:
Verified
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