Question 3: (12 marks) Harrison Corporation reported pretax book income of $600,000. Tax depreciation exceeded book depreciation by $400,000. In addition, the company received $300,000 of tax-exempt municipal bond interest. The company's prior year tax return showed taxable income of $50,000. Assuming a tax rate of 34%, 1. Compute the company's current income tax expense or benefit. 2. Compute the company's deferred income tax expense or benefit