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/ Homework Answers / Taxation / Question Harrison Corporation reported pretax book income of $627,500.Tax depreciation exceeded

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Harrison Corporation reported pretax book income of $627,500.Tax depreciation exceeded book depreciation by $490,000. Inaddition, the company received $290,000 of tax-exempt municipalbond interest. The company?s prior year tax return showed taxableincome of $61,000. Assuming a tax rate of 34 percent, compute thecompany?s deferred income tax expense or benefit.

Deferred income tax expense __________________?

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