WEEK 3 ASSIGNMENTS

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Exercise 19-2

The following information is available for Wenger Corporation for 2013.

1. Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will reverse equally over the years 2014–2017.
2. Deferral, for book purposes, of $20,000 of rent received in advance. The rent will be earned in 2014.
3. Pretax financial income, $300,000.
4. Tax rate for all years, 40%.

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