Milton Corporation reported pretax book income of $2,500,000.Included in the computation were favorable temporary differences of $400,000,unfavorable temporary differences of $150,000,and favorable permanent differences of $100,000.Using a tax rate of 34%,compute Milton's deferred income tax expense or benefit.

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The Answer of Milton Corporation reported pretax book income of $2,500,000.Included in the computation were favorable temporary differences of $400,000,unfavorable temporary differences of $150,000,and favorable permanent differences of $100,000.Using a tax rate of 34%,compute Milton's deferred income tax expense or benefit.

Milton Corporation Reported Pretax Book Income of $2,500,000