Porter Inc. incurred a $20,000 expense only $13,400 of which was deductible. Which of the following is true?

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Porter Inc. incurred a $20,000 expense only $13,400 of which was deductible. Which of the following is

true?

This transaction resulted in a $6,600 unfavorable difference between book income and taxable income.

This transaction resulted in a $6,600 favorable difference between book income and taxable income.

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If this transaction resulted in a permanent book/tax difference, it had no effect on the computation of Porter’s tax expense per books.

If this transaction resulted in a temporary book/tax difference, it had no effect on Porter’s deferred tax accounts.

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