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[The following information applies to the questions displayed below] Randolph Company reported pretax net income from continuing operations of $853,000 and taxable income of
[The following information applies to the questions displayed below] Randolph Company reported pretax net income from continuing operations of $853,000 and taxable income of $595,000. The book-tax difference of $258,000 was due to a $203,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $145,000 due to an increase in the reserve for bad debts, and a $200,000 favorable permanent difference from the receipt of life insurance proceeds. Problem 17-75 Part b (Algo) b. Compute Randolph Company's deferred income tax expense or benefit.
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