Mansfield Corporation purchased a new piece of equipment at the beginning of Year 1 for $1,070,000. The expected life of the asset is 20 years with no residual value. The company uses straight-line depreciation for financial reporting purposes and accelerated depreciation for tax purposes (the accelerated method results in $107,000 of depreciation each year). The company's federal income tax rate is 21%. The company determined its income tax obligations for Year 1 and Year 2 were $410,000 and $632,000, respectively.

1) Compute the deferred income tax amount reported on the balance sheet for each year.
2) Is the deferred income tax a liability or an asset?
3)Compute income tax expense for each year.

Wo firms, a and b, each currently dump 50 tons of chemicals into the local river. the government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. it costs firm a $100 for each ton of pollution that it eliminates before it reaches the river, and it costs firm b $50 for each ton of pollution that it eliminates before it reaches the river. the government gives each firm 20 pollution permits. government officials are not sure whether to allow the firms to buy or sell the pollution permits to each other. what is the total cost of reducing pollution if firms are not allowed to buy and sell pollution permits from each other? what is the total cost of reducing pollution if the firms are allowed to buy and sell permits from each other? a. $3,000; $1,500 b. $4,500; $3,500 c. $4,500; $4,000 d. $4,500; $2,500

John is a journalist he went to a product demonstration for a new computer some of what he heard was informative while the rest was meant to persuade consumers to buy the product which two statements in the excerpt are persuasive rather than informative

The castle river wind farm in alberta, canada, operates 67 wind turbines and produces 125 million kilowatt-hours of electricity - enough to serve 20,000 homes. why do you suppose the company erected 67 turbines, rather than, say, 50 or 100?