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Grand Corporation reported pretax book income of $630,000. Tax depreciation exceeded book depreciation by $420,000....

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Accounting

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Grand Corporation reported pretax book income of $630,000. Tax depreciation exceeded book depreciation by $420,000. In addition. the company received $315,000 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $52,500. Compute the company's current income tax expense or benefit. Note: Leove no answer blank. Enter N/A or zero

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