Smith Company reported pretax book income of $400,000. Included in the computation were favorable temporary differences of $50,000, unfavorable temporary differences of $20,000, and favorable permanent differences of $40,000. Smith's deferred income tax expense or benefit would be:
A) Net deferred tax expense of $6,300.
B) Net deferred tax benefit of $6,300.
C) Net deferred tax expense of $14,700.
D) Net deferred tax benefit of $14,700.
Correct Answer:
Verified
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