Deferred income tax expense

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Reference no: EM13752043

Harrison Corporation reported pretax book income of $627,500. Tax depreciation exceeded book depreciation by $490,000. In addition, the company received $290,000 of tax-exempt municipal bond interest. The company’s prior year tax return showed taxable income of $61,000. Assuming a tax rate of 34 percent, compute the company’s deferred income tax expense or benefit.

Deferred income tax expense __________________?

Reference no: EM13752043

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