Heron Corporation reported pretax book income of $4,000,000.Included in the computation were favorable temporary differences of $500,000,unfavorable temporary differences of $700,000,and unfavorable permanent differences of $200,000.Using a tax rate of 34%,compute Heron's current income tax expense or benefit.

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The Answer of Heron Corporation reported pretax book income of $4,000,000.Included in the computation were favorable temporary differences of $500,000,unfavorable temporary differences of $700,000,and unfavorable permanent differences of $200,000.Using a tax rate of 34%,compute Heron's current income tax expense or benefit.

Heron Corporation Reported Pretax Book Income of $4,000,000