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Compute frances total income tax expense

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Question 1: Prance, Inc., earns pretax book net income of $800,000 in 2018. France acquires a depreciable asset that year, and ?rstvyear tax depreciation exceeds book depreciation by $80,000. Prance reported no other temporary or permanent book-tax differences. The pertinent U.S. tax rate is 21%, and France earns an a?erwtax rate of return on capital of 8%. Compute France's total income tax expense, current income tax expense, and deferred income tax expense.

Reference no: EM132464729

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