Teri Inc has the following differences between book and tax basis of its assets an...
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Accounting
Teri Inc has the following differences between book and tax basis of its assets an liabilities at the end of 2000.
| Book Basis | Tax Basis | |
| Equipment | $400,000 | 340,000 |
| Estimated Warranty Liability | $200,000 | 0 |
The warranty will be settled in 2001.
If Teri Inc. has a taxable income of $520,000 in 2000, what is Teri's accounting income?
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You can see the logs in the Dashboard.