Grand River Corporation reported pretax book income of $560,000. Included in the computation were favorable...
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Grand River Corporation reported pretax book income of $560,000. Included in the computation were favorable temporary differences of $130,000, unfavorable temporary differences of $58,000, and favorable permanent differences of $116,000. The corporation's current income tax expense or benefit would be:
$117,600 tax benefit.
$114,660 tax expense.
$102,480 tax benefit.
$78,120 tax expense.
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