TLR Productions has book income of $650,000,and a tax rate of 35%.Assuming there is no book-tax income difference,what is TLR's income tax expense?

Question

Quizplus · Accepted Answer

To calculate the income tax expense, we need to multiply the book income by the tax rate:
Income tax expense = Book income x Tax rate
Income tax expense = $650,000 x 0.35
Income tax expense = $227,500
Therefore, the correct answer is B.

TLR Productions Has Book Income of $650,000,and a Tax Rate