Randolph Company reported pretax net income from continuing operations of $1,016,500 and taxable income of $602,500. The book-tax difference of $414,000 was due to a $289,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $130,000 due to an increase in the reserve for bad debts, and a $255,000 favorable permanent difference from the receipt of life insurance proceeds. a. Compute Randolph Company's current income tax expense. Answer is complete but not entirely correct. Current income tax expense $ 475,975x