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Provision for TaxesInterim LO 10 LAX Inc. has the following income before income...

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Provision for TaxesInterim LO 10 LAX Inc. has the following income before income tax and estimated effective annual income tax rates for the first- three quarters of 2014. Income Before Income Tax Provision Estimated Effective Annual Tax Rate at End of Quarter Quarter 1st 2nd $70,000 50,000 40,600 32% 32% 38% 3rd Required: What should be LAX's income tax provision in the third-quarter income statement? (AICPA adapted) Income befor income tax provision (IBT) Esitmated effective annual tax rate at end of quarter Current Quarter Quarter IBT YTD Tax YTD Tax 1 st 2nd 3rd Ans

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