Lee Companys current income taxes payable related to its taxable income for 2017 is $320,000. In addition,
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Lee Company’s current income taxes payable related to its taxable income for 2017 is $320,000. In addition, Lee’s deferred tax liability increased $40,000 and its deferred tax asset increased $10,000 during 2017. What is Lee’s income tax expense for 2017?
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