Exercise 17-27 (0.6) Prance, Inc., ears pretax book net income of $800,000 in 2018. Prance acquires a depreciable asset that year, and first-year tax depreciation exceeds book depreciation by $80,000. Prance reported no other temporary or permanent book-tax differences. The relevant U.S. Federal corporate income tax rate is 21% and Prance earns an after-tax rate of return on capital of 8%. Compute the following for Prance, Inc. a. Current income tax expense b. Deferred income tax expense Total income tax expense