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  3. wfb corporation reported pretax book income of $1,

WFB Corporation reported pretax book income of $1,000,000. During...

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Accounting

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WFB Corporation reported pretax book income of $1,000,000. During the current year, the net reserve for warranties increased by $100,000. In addition, tax depreciation exceeded book depreciation by $200,000. Finally, WFB subtracted a dividends received deduction of $50,000 in computing its current year taxable income. WFB's accounting effective tax rate is: 2

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