Required information The following information applies to the questions displayed below Randolph Company reported pretax net income from continuing operations of $1.077,500 and taxable income of 5657500. The book-tax difference of $420,000 was due to a $252.000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $86,000 due to an increase in the reserve for bad debts, and a $254.000 favorable permanent difference from the receipt of life insurance proceeds. o. Compute Randolph Company's current income tax expense. Current income tax expense Compute Randolph Company's deferred income tax expense or benefit c. Compute Randolph Company's effective tax rate. (Round your answer to 2 decimal places.) Effective tax rate