Return to question Required information [The following information applies to the questions displayed below.] Part 1 of 4 1.6 points Randolph Company reported pretax net income from continuing operations of $800,000 and taxable income of $500,000. The book-tax difference of $300,000 was due to a $200,000 favorable temporary difference relating to depreciation, an unfavorable temporary difference of $80,000 due to an increase in the reserve for bad debts, and a $180,000 favorable permanent difference from the receipt of life insurance proceeds. a. Compute Randolph Company's current income tax expense. & Answer is complete but not entirely correct. Current income tax expense s (180,000) eBook b. Compute Randolph Company's deferred income tax expense or benefit. Hint Ask Deferred income tax expense $ (40,800) Print References C. Compute Randolph Company's effective tax rate. (Round your answer to 2 decimal places. eBook Hint Effective tax rate Ask Print References d. Provide a reconciliation of Randolph Company's effective tax rate with its hypothetical tax rate of 21 percent (Amounts to be deducted should be indicated by a minus sign. Round your percentages to 2 decimal places.) ETR reconciliation in S) Income tax expense at 21% Income tax provision ETR reconciliation (in %) Hypothetical income tax rate 21.00 Effective tax rate