Compute the company deferred income tax expense or benefit

Reference no: EM131979021

Question: Harrison Corporation reported pretax book income of $735,000. Tax depreciation exceeded book depreciation by $605,000. In addition, the company received $240,000 of tax-exempt municipal bond interest. The company's prior year tax return showed taxable income of $90,000. Assuming a tax rate of 34 percent, compute the company's deferred income tax expense or benefit.

Deferral income tax expense?

Reference no: EM131979021

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