Reference no: EM132923997

Question - Lynch Company had a net deferred tax asset of $ 69156 at the beginning of the year, representing a net deductible difference of $ 203,400 (taxed at 34%). During the year, Lynch reported pretax book income of $ 813,600. Include in the computing were favorable temporary difference of $ 23,400 and unfavorable temporary difference of $ 51,700. At the beginning of the year, Congress reduced the corporate tax rate to 21%. What the Lynch's deferred income tax expense or benefit for the current year?