Question
Harrison Corporation reported pretax book income of $735,000. Tax depreciation exceeded book depreciation by $605,000. In addition, the company received $240,000 of tax-exempt municipal bond
Harrison Corporation reported pretax book income of $735,000. Tax depreciation exceeded book depreciation by $605,000. In addition, the company received $240,000 of tax-exempt municipal bond interest. The companys prior year tax return showed taxable income of $90,000. Assuming a tax rate of 34 percent, compute the companys deferred income tax expense or benefit.
Deferral income tax expense----??
Please don't copy the answers from chegg those are wrong, I put this question before and still is wrong. Make sure help me with the correct answer.
Thank you.
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