Question: I need assistance with this general accounting question using appropriate principles. Brandon Inc.'s 2022 income statement reported a pretax accounting income of $3,500,000. To determine

I need assistance with this general accounting question using appropriate principles.

Brandon Inc.'s 2022 income statement reported a pretax accounting income of $3,500,000. To determine the federal income tax liability, the following 2022 data is provided: Income from exempt municipal bonds: $120,000 Depreciation deducted for tax purposes in excess of depreciation deducted for financial statement purposes' $750,000 Estimated federal income tax payments made: $600,000 Enacted corporate income tax rate: 25% What amount of current federal income tax liability should be included in Brandon Inc.'s December 31, 2022 balance sheet

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