Cass Corporation reported pretax book income of $6,100,000. During the current year, the reserve for bad debts increased by $107,500. In addition, tax depreciation exceeded book depreciation by $310,000. Cass Corporation sold a fixed asset and reported book gain of $123,750 and tax gain of $153,000. Finally, the company received $294,000 of tax-exempt life insurance proceeds from the death of one of its officers. Compute the companys current income tax expense or benefit.