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Compute the company deferred income tax expense

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Problem 1: Harrison Corporation reported pretax book income of $615,000. Tax depreciation exceeded book depreciation by $655,000. In addition, the company received $220,000 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $130,000. Assuming a tax rate of 21 percent, compute the company's deferred income tax expense?

Reference no: EM132928997

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