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For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable...

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Accounting

For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:
Pretax accounting income $ 340,000
Permanent difference (15,300)
324,700
Temporary difference-depreciation (20,100)
Taxable income $ 304,600
Tringali's tax rate is 25%. Assume that no estimated taxes have been paid.
What should Tringali report as its income tax expense for its first year of operations?
Multiple Choice
$5,025
$76,150
$81,175
$85,000

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