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Mini, Inc., cams pretax book net income of $750,000 in 2016. Mini deducted $20,000 in bad debt expense for book purposes. This expense is not yet deductible for tax purposes. Mini has no other temporary or permanent differences. Assuming that the applicable U.S. tax rate is 35%, compute Mini's total income tax expense, current income tax expense, and deferred income tax expense.

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Accounting Basics, Accounting

Category:- Accounting Basics
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