Pretax accounting income 340000 permanent difference 14500

Reference no: EM13589130

For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income $340,000 Permanent difference (14,500) 325,500 Temporary difference-depreciation (19,900) Taxable income $305,600 Tringali's tax rate is 36%.

What should Tringali report as its income tax expense for its first year of operations?

Reference no: EM13589130

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