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During the current year, Stern Company had pretax accounting income of $44 million. Stern's only...

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Question

Accounting

During the current year, Stern Company had pretax accounting income of $44 million. Stern's only temporary difference for the year was rent received for the following year in the amount of $24 million. Stern's taxable income for the year would be:

Multiple Choice

$20 million.

$49 million.

$44 million.

$68 million.

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