Rogene, Inc. reported the following results for the current year. Book income (before tax) ............. $425,000 Tax

Question:

Rogene, Inc. reported the following results for the current year.
Book income (before tax) ............. $425,000Tax depreciation in excess of book ......... 25,000Non-tax-deductible warranty expense ........ 17,500Municipal bond interest income ......... 28,500
Determine Rogene's taxable income for the current year. Identify any temporary or permanent book-tax differences.