Corporate tax rate 21%

Grand River Corporation reported pretax book income of $550,000. Included in the computation were favorable temporary differences of $125,000, unfavorable temporary differences of $50,000, and favorable permanent differences of $110,000. The corporation's current income tax expense or benefit would be: Multiple Choice $115,500 tax benefit. $110.250 tax expense. $99,750 tax benefit. $76,650 tax expense