LO.2 Poco, in Problem 16, reports $400,000 of pretax book net income in 2011. Poco did not deduct any bad debt expense for book purposes but did deduct $20,000 in bad debt expense for tax purposes. Poco has no other temporary or permanent differences.

Assuming the U.S. tax rate is 35%, compute Poco’s total income tax expense, current income tax expense, and deferred income tax expense.