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The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's taxable income ($ in millions) is:

Answer :

Parraingo Parraingo

Answer: $160

Explanation:

Taxable income = Pretax income + (Non deductible expenses) - Deductible expenses

= Pretax income + Overweight fees + Depreciation expense - Depreciation in the tax return

= 195 + 5 + 70 - 110

= $160

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