For 2018 tax purposes, Cass Corporation reported pretax book income of $10,000,000. During the current

year, the reserve for bad debts increased by $100,000. In addition, tax depreciation

exceeded book depreciation by $200,000. Cass Corporation sold a fixed asset and

reported book gain of $50,000 and tax gain of $75,000. Finally, the company received

$250,000 of tax-exempt life insurance proceeds from the death of one of its

officers. Compute the companys current income tax expense or benefit.