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For its first year of operations, Otter Corporation's computation of taxable income is as follows:
Pretax financial income $835,000
Less: Tax exempt interest revenue on municipal bonds -110,000
Less: Excess of tax depreciation over financial depreciation -100,000
Taxable income $625,000
Statutory tax rate 32%
What is the journal entry that Otter should record for its income tax provision?



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