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Required information Problem 17-75 (LO 17-5) (Algo) (The following information applies to the questions displayed below) Randolph Company reported pretax net income from continuing operations of $1,116,500 and taxable income of $687,500. The book-tax difference of $429,000 was due to a $247,000 favorable temporary difference relating to depreciation, on unfavorable temporary difference of $99,000 due to an increase in the reserve for bad debts, and a $281,000 favorable permanent difference from the receipt of life insurance proceeds. Problem 17-75 Part a (Algo) a. Compute Randolph Company's current income tax expense. Curred income tax expense