Grand Corporation reported pretax book income of $669,000. Tax depreciation exceeded book depreciation by $446,000. In addition, the company received $334,500 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $55,750. Grand's beginning book (tax) basis in its fixed assets was $2,115,000 ($1,892,000) and its ending book (tax) basis is $2,615,000 ($1,969,000). Compute the company's current income tax expense or benefit. Note: Leave no answer blank. Enter N/A or zero. Current income tax Deferred income tax benefit expense $ 413,490

Grand Corporation reported pretax book income of $669,000. Tax depreciation exceeded book depreciation by $446,000. In addition. the company received $334,500 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $55,750. Grand's beginning book (tax) basis in its fixed assets was $2,115,000($1,892,000 ) and its ending book (tax) basis is $2,615,000($1,969,000). Compute the company's current income tax expense or benefit. Note: Leave no answer blank. Enter N/A or zero