Computing deferred tax reported

Reference no: EM13143795

William Company reported $550,000 in financial (book) income before taxes for year 3. Tax depreciation for the year exceeded book depreciation by $50,000. The tax rate for Year 3 was 30%, and Congress enacted a tax rate of 40% for years after Year 3. What is the deferred tax reported on William's December 31, Year 3, balance sheet?

Reference no: EM13143795

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