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For 2015, Wasabi Company has accounting revenues of $6,000. However, because of temporary differences between...

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Accounting

For 2015, Wasabi Company has accounting revenues of $6,000. However, because of temporary differences between tax and accounting, $1,000 of this is not subject to tax. If expenses are $3,000 for both tax and accounting, and the tax rate is 40%, what is the amount of tax payable to the IRS?

a. $400

b. $1600

c. $800

d. $1200

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