QUESTION 1 Woodward Corporation reported pre-tax book income of $1,100,000. Included in the computation were favorable temporary differences of $200,000, unfavorable temporary differences of $60,000, and favorable permanent differences of $100,000. Assuming a tax rate of 21%, compute the company's current income tax expense or benefit. (Enter the answer as a positive.) QUESTION 2 Cass Corporation reported pre-tax book income of $9,000,000. During the current year, the reserve for bad debts increased by $100,000. In addition, tax depreciation exceeded book depreciation by $200,000. Cass Corporation sold a fixed asset and reported book gain of $25,000 and tax gain of $75,000. Finally, the company received $250,000 of tax-exempt life insurance proceeds from the death of one of its officers. Assuming a tax rate of 21%, compute the company's current income tax expense or benefit. (Enter the answer as a positive.)