Myrtelle reports accounting profit of 640,000. Under tax law (case data), the fines recognised, i.e. 12,000, are not deductible, and tax depreciation for the year exceeds accounting depreciation by 75,000. Compute taxable profit.
- Accounting profit
- 640,000
- Non-deductible fines
- 12,000
- Excess of tax depreciation over accounting depreciation
- 75,000