Grand Corporation reported pretax book income of $ 6 6 3 , 0 0 0 . Tax
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Question:
Grand Corporation reported pretax book income of $ Tax depreciation exceeded book depreciation by $ In addition, the company received $ of taxexempt municipal bond interest. The company's prioryear tax return showed taxable income of $ Grand's beginning book tax basis in its fixed assets was $$ and its ending book tax basis is $$
Compute the company's current income tax expense or benefit.
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