Business, 10.11.2019 05:31, BradFarquharson472

Grand corporation reported pretax book income of $610,000. tax depreciation exceeded book depreciation by $520,000. in addition, the company received $255,000 of tax-exempt municipal bond interest. the company’s prior-year tax return showed taxable income of $64,000. compute the company’s current income tax expense or benefit.

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Grand corporation reported pretax book income of $610,000. tax depreciation exceeded book depreciati...