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Business, 11.05.2021 01:00 smrichardson0220

in 2020, Mathis Co. at the first year of operations, has financial income of $1,200,000. It has an litigation expense of $3,000,000, and installment sales of $2,4000,000. The estimated litigation expense of $3,000,000 will be deductible in 2022 when it is expected to be paid. The installment sales will be realized in the amount of $1,200,000 in each of the next two years. The income tax rate is 20% for all years. what is tax payable for 2020

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in 2020, Mathis Co. at the first year of operations, has financial income of $1,200,000. It has an l...
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