Packers Corporation reported pretax book income of $500,000. During the current year, the reserve for bad debts increased by $5,000. In addition, tax depreciation exceeded book depreciation by $40,000. Finally, Packers received $3,000 of tax-exempt life insurance proceeds from the death of one of its officers. Packers current income tax expense or benefit would be: Group of answer choices None of the Above $105,000. $104,370. $97,020. $97,650