Required information [The following information applies to the questions displayed below.) Randolph Company reported pretax net income from continuing operations of $997,000 and taxable income of $640,000. The book-tax difference of $357,000 was due to a $244,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $136,000 due to an increase in the reserve for bad debts, and a $249,000 favorable permanent difference from the receipt of life insurance proceeds. d. Provide a reconciliation 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.) ETR reconciliation (in $) Income tax expense at 21% Income tax provision ETR reconciliation (in %) Hypothetical income tax rate 21.00 % % Effective tax rate %