Plutonic Inc. had $400 million in taxable income for the current year. Plutonic also had a decrease in deferred tax assets of $50 million and recognized tax expense of $80 million. The company is subject to a tax rate of 40%.
The change in deferred tax asset was a/an:A. Increase of $30 millionB. Increase of $130 millionC. Decrease of $30 millionD. Decrease of $130 million
+4
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Plutonic Inc. had $400 million in taxable income for the current year. Plutonic also had a decrease in deferred tax assets of $50 million ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Home » Business » Plutonic Inc. had $400 million in taxable income for the current year. Plutonic also had a decrease in deferred tax assets of $50 million and recognized tax expense of $80 million. The company is subject to a tax rate of 40%.