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Determine the Stern taxable income for the year

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Question - During the current year, Stern Company had pretax accounting income of $53 million. Stern's only temporary difference for the year was rent received for the following year in the amount of $21 million. Determine the Stern's taxable income for the year?

a. 53 million

b. 74 million

c. 32 million

d. 58 million

Reference no: EM132861795

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