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Gull Corporation reported pretax book income of $2,007,000. Included in the computation were favorable temporary differences of $302,100, unfavorable temporary differences of $201,400, and favorable
Gull Corporation reported pretax book income of $2,007,000. Included in the computation were favorable temporary differences of $302,100, unfavorable temporary differences of $201,400, and favorable permanent differences of $50,700. Assuming a tax rate of 34%, compute Gull's current income tax expense or benefit.
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