For the current year ($ in millions), Centipede Corp. had $80 in pretax accounting income....
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Accounting
For the current year ($ in millions), Centipede Corp. had $80 in pretax accounting income. This included warranty expense of $6 and $20 in depreciation expense. Two million of warranty costs were paid, and MACRS depreciation amounted to $35. In the absence of other temporary or permanent differences, what was Centipede's taxable income?
A) $73 million.
B) $69 million.
C) $63 million.
D) $49 million.
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