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What amount of deferred tax liability should be reported

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Question - Sunland Corporation began operations in 2017 and reported pretax financial income of $218,000 for the year. Sunland's tax depreciation exceeded its book depreciation by $40,000. Sunland's tax rate for 2017 and years thereafter is 30%. In its December 31, 2017, balance sheet, what amount of deferred tax liability should be reported?

Reference no: EM132270553

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