In 2020, when the enacted tax rate for the current and all future periods
was 21.5%, Garza Corp. had a taxable loss of $471,000 and elected to use
the net operating loss carryforward provision.
In 2021, the tax rate changed to 25.0% for the current and all future
periods, and Garza reported taxable income of $318,000.
In 2022, Garza reported taxable income of $967,000. Garza has no book-
tax differences.
What amount will Garza report as current income tax expense on its 2022
income statement?