Prance, Inc., earns pretax book net income of $1,648,500 in 2018. Prance acquires a depreciable asset that year, and first-year tax depreciation exceeds book depreciation by $164,850. Prance reported no other temporary or permanent book-tax differences. The relevant U. S. tax rate is 21%, and Prance earns an after-tax rate of return on capital of 8%.
a. Compute Prance's total income tax expense, current income tax expense, and deferred income tax expense.