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Wayne Co Had a Decrease in Deferred Tax Liability of $20

Question 125

Multiple Choice

Wayne Co. had a decrease in deferred tax liability of $20 million, a decrease in deferred tax assets of $10 million, and an increase in tax payable of $100 million. The company is subject to a tax rate of 40%. The total income tax expense for the year was:


A) $90 million.
B) $100 million.
C) $110 million.
D) $130 million.

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