Woodward Corporation reported pretax book income of $1,105,000. Included in the computation were favorable temporary differences of $335,000, unfavorable temporary differences of $63,750, and favorable permanent differences of $142,000. Compute the companys current income tax expense or benefit.

\begin{tabular}{|l|r|} \hline Pretax book income & $1,105,000 \\ \hline Favorable temporary differences & (335,000) \\ \hline Unfavorable temporary differences & 63,750 \\ \hline Favorable permanent differences & (142,000) \\ \hline Taxable income & 691,750 \\ \hline Current income tax expense & \\ \hline \end{tabular}