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Marlin Corporation reported pretax book income of $1,001,000. During the current year, the net reserve for warranties increased by $25,200. In addition, book depreciation exceeded tax depreciation by $100,100. Finally, Marlin subtracted a dividends received deduction of $15,100 in computing its current year taxable income. Marlin's current income tax expense or benefit would be:

Respuesta :

abiolataiwo2015

Answer:

$233,352

Explanation:

Calculation to determine what Marlin's current income tax expense or benefit would be:.

Marlin's current income tax expense =[($1,001,000 + $25,200 + $100,100 − $15,100)*21%]

Marlin's current income tax expense= $1,111,200 × 21%

Marlin's current income tax expense=$233,352

Therefore Marlin's current income tax expense or benefit would be:$233,352

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