Park Co.s 2018 income statement reported $102,605 in income before provisions for income taxes. To...
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Accounting
Park Co.s 2018 income statement reported $102,605 in income before provisions for income taxes. To compute the provision for federal income taxes, the following 2018 data are provided:
Installment sales to be collected in future years $6,728
Income from exempt municipal bonds $16,379
Depreciation deducted for financial reporting purposes $13,667
Depreciation deducted for income tax purposes $28,361
If the alternative minimum tax provisions are ignored, what amount should Park report as taxable income?
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