Grand Corporation reported pretax book income of $635,000

Grand Corporation reported pretax book income of $635,000. Tax depreciation
exceeded book depreciation by $610,000. In addition, the company received $215,000 of tax-exempt municipal bond interest. The company’s prior-year tax return showed taxable income of $139,000. Compute the company’s current income tax expense or benefit. (Leave no cell blank – Be sure to enter “0” wherever required.)
 
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