Nolan Corp. is an accrual basis, calendar$-$year corporation. This year, it reported $$830,576$ of

net income before tax. Nolan Corp. provided the additional facts below, which it used

properly when it prepared its financials. The currently$-$enacted tax rate for this and all future

periods is $21\%.$

Business meals expense totaled

$$27,780.$

Bad debt expense of $$88,010$ was reported on the income statement. Bad debt

write$-$offs totaled $$11,586.$

Nolan Corp. received $$73,000$ of unearned rental income.

Life insurance premiums on the life of the CEO totaled

$$22,000.$

Current$-$year cost recovery for fixed asset purchases totaled $$982,000$ for tax

purposes, whereas it reported $$259,300$ of depreciation on the income

statement.

One of the company's manufacturing plants exceeded the legal limit for air

pollution and incurred a $$55,000$ fine.

Nolan Corp. had prepaid $$13,000$ of this year's utility expense last year.

The company incurred a $$34,900$ net capital loss this year. It carried $$20,000$ of

that amount back and received a refund at $35\%($the rate in effect for that prior

year$).$

In addition, Nolan Corp. released $$143,000$ valuation allowance after re$-$evaluating positive

and negative evidence regarding the related deferred tax asset this year.

Please prepare the income tax provision and construct the effective tax rate reconciliation

$($in $ and $\%).$ Please show every reconciling item in the rate reconciliation regardless of

significance.