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Business, 12.12.2020 17:10 punkee5375

Costello Corporation reported pretax book income of $502,000. During the current year, the reserve for bad debts increased by $9,000. In addition, tax depreciation exceeded book depreciation by $42,000. Finally, Costello received $4,000 of tax-exempt life insurance proceeds from the death of one of its officers. Costello's deferred income tax expense or benefit would be:.

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Costello Corporation reported pretax book income of $502,000. During the current year, the reserve f...
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