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Compute the company current income tax expense or benefit

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Question - Grand Corporation reported pretax book income of $635,000. Tax depreciation exceeded book depreciation by $610,000. In addition, the company received $215,000 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $139,000. Compute the company's current income tax expense or benefit.

Reference no: EM132654118

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