Cass Corporation reported pretax book Income of $12,900,000. During the current year, the reserve for bad debts Increased by $127,500. In addition, tax depreclation exceeded book depreclation by $337,500. Cass Corporatlon sold a fixed asset and reported book galn of $75,750 and tax galn of $116,500. Flnally, the company recelved $265,000 of tax-exempt Iife Insurance proceeds from the death of one of its officers. Compute the company's current Income tax expense or beneft. (Round your final answers to nearest whole doller amount. Amounts to be deducted should be Indicated by a mlnus sign.) Answer is not complete. Pretax book income Increase in bad debt reserve Excess tax depreciation Excess tax over book gain Tax-exempt life insurance proceeds Taxable income Tax rate S 12,900,000 (127,500) (337.500) (75,750) (265,000 S 12,094,250