Compute the estimated tax liability on the differences

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Reference no: EM131317740

For Mary Lou and Ernie, the assets and liabilities and the effective income tax rates at December 31, 2012, follow:

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Required
a. Compute the estimated tax liability on the differences between the estimated current value of the assets and liabilities and their tax bases.

b. Present a statement of financial condition for Mary Lou and Ernie at December 31, 2012.

c. Comment on the statement of financial condition.

Reference no: EM131317740

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