Techsmart reported the following information:

Pre-tax Income 100,000

Life Insurance Premium Paid (CEOs policy) 1,000

Municipal bond interest revenue 8,000

Restructuring charge (no cash has yet been paid) 15,000

Tax rate 40%

Compute the following: (1) financial income subject to tax, (2) taxable income, (3) Total income tax expense, (4) current income tax expense, (5) deferred income tax expense, (6) net income, and (7) effective tax rate.