Pretax accounting income for the year ended December 31, 2022, was $50 million for Nestle....
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Accounting
Pretax accounting income for the year ended December 31, 2022, was $50 million for Nestle. Nestle taxable income was $40 million. This was a result of differences between straight-line depreciation for financial reporting purposes and accelerated depreciation for tax purposes. The enacted tax rate is 25% for 2022 and 30% therafter. What amount should Nestle report as the current portion of income tax expense for 2022?
1. 12.5 million
2. 10 million
3. 15 million
4. 12 million
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