At the beginning of 2022, KPD Inc has depreciable assets with a financial accounting book...
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Accounting
At the beginning of 2022, KPD Inc has depreciable assets with a financial accounting book value of $100 million and a tax basis of $80 million. At the end of 2022, KPDs depreciable assets have a financial accounting book value of $90 million and a tax basis of $74 million. KPD calculated tax payable of $10 million for 2022, and its tax rate is 25%. Based on only that information, KPDs tax expense for 2022 is
Please explain!
Multiple Choice O $2.5 million. O $9 million O $10 million O $11 million
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