The following information is available for Cullumber Corporation for 2019 (its first year of operations)
1. Excess of tax depreciation over book depreciation, 41,200. This 41,200 difference will reverse equally over the years 2020-2023.
2. Deferral, for book purposes, of 18,700 of rent received in advance. The rent will be recognized in 2020.
3. Pretax financial income, 319,200.
4. Tax rate for all years, 20%.