For the year ended december 31, year 1, grim co.'s pretax financial statement income was $200,000 and its taxable income was $150,000. the difference is due to the following: interest on municipal bonds $70,000 premium expense on keyman life insurance (20,000) total $50,000 grim's enacted income tax rate is 30%. in its year 1 income statement, what amount should grim report as current provision for income tax expense?