Randolph Company reported pretax net income from continuing operations of $982,500 and taxable income of $612,500. The book-tax difference of $370,000 was due to a $246,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $150,000 due to an increase in the reserve for bad debts, and a $274,000 favorable permanent difference from the receipt of life insurance proceeds. d. Complete the reconciliation of Randolph Companys effective tax rate with its hypothetical tax rate of 21 percent. (Amounts to be deducted should be indicated by a minus sign. Round your percentages to 2 decimal places.)

Ch 17 P-75 6 Saved 4 Required Informetlon The following Information applies to the questions displayed below Part 4 of 4 Randolph Company reported pretax net Income from continuing operations of $982,500 and taxable Income of $612,500 The book-tax difference of $370,000 was due to a $246,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $150,000 due to an Increase In the reserve for bad debts, and a $274,000 favorable permanent difference from the recelpt of life Insurance proceeds. points d. Complete the reconcillation of Randolph Company's effective tax rate with its hypothetical tax rate of 21 percent. (Amounts to be deducted should be Indicated by a minus sign. Round your percentages to 2 decimal places eBook ETR reconciliation (in S) Hint Income tax expense at 21% Print Income tax provision 0 ETR reconciliation (in %) Hypothetical income tax rate References 21.001% Effective tax rate