What amount of deferred income tax liability

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Stone Co. began operations in 2009 and reported $ 225,000 in income before income taxes for the year. Stone’s 2009 tax depreciation exceeded its book depreciation by $ 25,000. Stone also had nondeductible book expenses of $ 10,000 related to permanent differences. Stone’s tax rate for 2009 was 40%, and the enacted rate for years after 2009 is 35%. In its December 31, 2009, balance sheet, what amount of deferred income tax liability should Stone report?

Reference no: EM13139724

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