Grand River Corporation reported pretax book income of $560,000. Included in the computation were favorable temporary differences of $130,000, unfavorable temporary differences of $58,000, and favorable permanent differences of $116,000. The corporation's current income tax expense or benefit would be:

1. $117,600 tax benefit.
2. $114,660 tax expense.
3. $102,480 tax benefit.
4. $78,120 tax expense.