For the year ended December 31, 1993, Grim Co.'s pretax financial statement income was $200,000 and its taxable income was $150,000. The difference is due to the following:
Interest on municipal bonds $70,000
Premium expense on keyman life insurance (20,000)
Total $50,000
Grim's enacted income tax rate is 30%. In its 1993 income statement, what amount should Grim report as current provision for income tax expense?
a) $45,000
b) $51,000
c) $60,000
d) $66,000