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Business, 14.04.2020 22:44 bob8638

The payment represents rent for the years 2022 and 2023, the period covered by the lease. Kraft Company is a cash basis taxpayer. Kraft has income tax payable of $230,000 at the end of 2021, and its tax rate is 25%. What amount of income tax expense should Kraft Company report at the end of 2021?

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The payment represents rent for the years 2022 and 2023, the period covered by the lease. Kraft Comp...
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