(Solved): Grand Corporation reported pretax book income of $630,000. Tax depreciation exceeded book depreciat ...

Grand Corporation reported pretax book income of $\$630,000$. Tax depreciation exceeded book depreciation by $\$420,000$. In addition. the company received $\$315,000$ of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $\$52,500$. Compute the company's current income tax expense or benefit. Note: Leove no answer blank. Enter N/A or zero.