alpha corp reports the following results for the current year:

net income per books (before federal income taxes ) 738,000

federal income tax expense per books (156,240)

net income per books (after federal income taxes) 581,760

tax exempt interest income 10,000

interest on loan to purchase tax exempt bonds 7,000

macrs deprectiation exceeding book depreciation 40,000

net capital loss 8,000

insurance premium on life of corporate office where alpha is the beneficiary 9,000

excess charitable contributions carriedover to next year 4,000

a. prepare a reconicilation of alsphas taxable income before special deductions with its book income

b. prepare a tax provision reconciliation as in step 9 of the tax provision process. assume a 21% tax rate.