60. Locate IRS Publication Go to the IRS Web site () and print the fourth page of Form 1120: U.S. Corporate Income Tax Return. Use the information in example 40 to complete Schedule M-1. 61. Locate IRS Publication Go to Enron’s Web site () and locate its annual report for 2000. What is its effective book tax rate for 1999 and 2000?

100 Solutions Manual for Taxation for Decision Makers Develop Planning Skills 62. Timing of Payments Kondex, a cash-basis corporation, is considering paying $50,000 of expenses at the end of this year rather than waiting until next year. Kondex's marginal tax rate for the current year is 25 percent but it expects to be in the 34 percent marginal tax bracket next year. Kondex uses a 7 percent discount rate for evaluation purposes. Should Kondex pay the expenses at the end of the current year? 63. Combined Business and Pleasure Travel Bob lives in Atlanta and needs to set up three days of business meetings with customers in San Francisco. While he is in California, he would like to spend two days sightseeing in the wine country. Bob's customers are willing to meet any weekday with him, so the scheduling is totally up to him. Bob wants to maximize the deductible portion of his travel expenses. What should he consider in scheduling his business meetings?