Morgan Corporation determined that $1,100,000 of the research credit on its current-year tax return was uncertain, but that it was more likely than not to be sustained on audit. Management made the following assessment of the company's potential tax benefit from the credit and its probability of occurring.
Under ASC 740, what amount of the tax benefit related to the research credit can Morgan recognize in calculating its income tax provision in the current year?
Definitions:
Technological Complexity
The degree of difficulty and sophistication involved in the technology of a project or system.
Newness Of Technology
The degree to which a technology is recent or innovative, impacting its adoption and implementation.
Technology Familiarity
The extent to which individuals or organizations are comfortable with and knowledgeable about the use of technological tools and systems.
DPCI Rating
A metric or scale that evaluates digital project complexity or performance; similar to DPCI Score but may imply a rating system.
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