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Marlin Corporation reported pretax book income of $1,008,000. During the current year, the net reserve...

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Accounting

Marlin Corporation reported pretax book income of $1,008,000. During the current year, the net reserve for warranties increased by $26,600. In addition, book depreciation exceeded tax depreciation by $100,800. Finally, Marlin subtracted a dividends received deduction of $15,800 in computing its current year taxable income. Marlin's current income tax expense or benefit would be:

  1. $238,434 tax expense.
  2. $235,116 tax expense.
  3. $211,680 tax expense.
  4. $207,228 tax expense.

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