Deferred tax liabilities, Alamo Inc. had $300 million in

Deferred tax liabilities

Reference no: EM13120444

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%. What was the amount of the total income tax expense for the year?

Reference no: EM13120444

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