Grand Corporation reported pretax book income of $603,000. Tax depreciation exceeded book depreciation by $402,000. In addition, the company received $301,500 of tax-exempt municipal bond interest. The companys prior-year tax return showed taxable income of $50,250. Compute the company's current income tax expense or benefit. (Leave no answer blank. Enter N/A or zero.)

Answer is complete but not entirely correct. N/A $ expense $ 21,105 X Current income tax Deferred income tax