Class Discussion No. 3 Please review the following information and explain the "total expense" for...
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Accounting
Class Discussion No. 3 Please review the following information and explain the "total expense" for both companies. What can you get out of this breakdown of their total tax expense? What does it mean? Which company is better off? LawnCo TreeCo Book income before tax $600,000 $780,000 Current tax expense $200,000 $ 20,000 Deferred tax expense (benefit) (50,000) Total Federal, state, and global tax expense $150,000 175,000 $195,000 Effective tax rate 25% 25%
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