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How much income tax expense will farmers inc report

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Question - During the first quarter of 2022, Farmers, Inc. reported Pre-Tax Income of$ 3,000,000, and at that time, estimated that their effective tax rate for the year would be 35%.

For the quarter ending June 30, 2022, Farmers, Inc. reported Pre-Tax Income of $ 5,000,000, and as of the end of the second quarter, estimated that their effective tax rate for the year would be 40% Based on this information, how much Income Tax Expense will Farmers, Inc. report for the quarter ending June 30, 2022?

Reference no: EM133174659

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