In 2011, due to a change in marketing forecasts, Sticky Corporation reduced the projected life...
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Accounting
In 2011, due to a change in marketing forecasts, Sticky Corporation reduced the projected life of its patent for producing round dice. The cumulative patent amortization prior to 2011 would have been $10 million higher had the new life been used. Sticky's tax rate is 30%. Sticky's retained earnings as of January 1, 2011, would be:
Group of answer choices Overstated by $3 million. Overstated by $10 million. None is correct.
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