8 Required information The following information applies to the questions displayed below.] Part 2 of 2 Randolph Company reported pretax net income from continuing operations of $800,000 and taxable income of $500,000. The book-tax difference of $300,000 was due to a $200,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $80,000 due to an increase in the reserve for bad debts, and a $180,000 favorable permanent difference from the receipt of life insurance proceeds. points 01:56:04 d. Provide a reconciliation of Randolph Company's effective tax rate with its hypothetical tax rate of 21 percent. (Amounts to be deducted should be indicated by a minus sign. Round your percentages to 2 decimal places.) eBook ETR reconciliation (in S) Income tax expense at 21% Income tax provision ETR reconcilation (in %) Hint Print Hypothetical income tax rate 21 001% References Effective tax rate