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Palm Co. reported pretax book income of $1,000,000. During the current year, the reserve for warranties increased by $100,000. The company did not take any

Palm Co. reported pretax book income of $1,000,000. During the current year, the reserve for warranties increased by $100,000. The company did not take any deductions on its tax return related to warranty payments made during the year. In addition, Palm sold a fixed asset and reported book gain of $40,000 and tax gain of $90,000. What is Palm's current income tax expense (benefit)?

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