Burcham Corporation reported pretax book income of $825,000. Tax depreciation exceeded book depreciation by $560,000. In addition, the company received $315,000 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $25,000. Compute the company's book equivalent of taxable income. Use this number to compute the company's total income tax provision or benefit, assuming a tax rate of 34 percent. Book equivalent of taxable income Total income tax provision or benefit