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Madrid Incorporated's 2015 Income Statement Reported Income Tax Expense of $635,375.During

Question 57

Multiple Choice

Madrid Incorporated's 2015 income statement reported income tax expense of $635,375.During 2015,Madrid's income taxes payable account increased $19,735 while the deferred tax asset account increased $39,365.How much cash was paid for taxes during 2015?


A) $615,745
B) $694,475
C) $655,005
D) $576,275

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