At December 31, 2006, Next Generation Inc. had a deferred tax asset of $35,000. At December 31,

Question:

At December 31, 2006, Next Generation Inc. had a deferred tax asset of $35,000. At December 31, 2007, the deferred tax asset is $59,000. The corporation's 2007 current tax expense is $61,000. What amount should Next Generation report as total 2007 tax expense?

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