Alamo Inc. had $300 million in taxable income for the current year. Alamo also had a decrease in deferred tax assets of $30 million and an increase in deferred tax liabilities of $60 million. The company is subject to a tax rate of 40%. The total income tax expense for the year was:
A) $390 million.
B) $210 million.
C) $150 million.
D) $180 million.
Correct Answer:
Verified
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