Packard Corporation reported pretax book income of $500,100. Included in the computation were favorable temporary differences of $10,100, unfavorable temporary differences of $100,100, and unfavorable permanent differences of $80,050. The corporation's current income tax expense or benefit would be:

140,732

123,653

121,832

105,021

Answer rating: 100% (QA)

Favorable booktax differences are subtractions from book income when reconciling to taxable ... View the full answer