Question
Bautista Corporation reported pretax book income of $1,500,000. Included in the computation were favorable temporary differences of $407,500, unfavorable temporary differences of $100,500, and favorable
Bautista Corporation reported pretax book income of $1,500,000. Included in the computation were favorable temporary differences of $407,500, unfavorable temporary differences of $100,500, and favorable permanent differences of $107,000. Compute the company's current income tax expense or benefit.
Note: Round your final answer to nearest whole dollar amount. Amounts to be deducted should be indicated by a minus sign.
Pretax book income
Favorable temporary differences
Unfavorable temporary differences
favorable permanent differences
taxable income
Current income tax expense
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