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Grand Corporation reported pretax book income of $615,000. Tax depreciation exceeded book depreciation by $410,000....

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Accounting

Grand Corporation reported pretax book income of $615,000. Tax depreciation exceeded book depreciation by $410,000. In addition, the company received $307,500 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $51,250. Compute the company's current income tax expense or benefit. Note: Leave no answer blank. Enter N/A or zero.

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