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Perk Corporation is subject to tax only in State A. Perk generated the following income and...

Perk Corporation is subject to tax only in State A. Perk generated the following income and deductions: Federal taxable income $300,000 State A income tax expense 15,000 Refund of State A income tax 3,000 Depreciation allowed for Federal tax purposes 200,000 Depreciation allowed for state tax purposes 120,000 Federal taxable income is the starting point in computing State A's taxable income. State income taxes are not deductible for State A's tax purposes. Perk's State A taxable income is $

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Perk's State A taxable income is $ 392000

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Federal taxable income 300000
State A income tax expense 15000
Refund of State A income tax -3000
Depreciation Modification (200000-120000) 80000
State A taxable income 392000
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