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Question - For the year ended December 31, Year 4, Brye Co. reported pretax financial statement income of $320,000. Its taxable income was $270,000. The $50,000 difference is due to using the installment sale method for tax reporting. Brye's current enacted tax income tax rate is 25% and its future enacted tax rate is 30%. Brye made estimated tax payments during Year 4 of $25,000. What amount should Brye report as current income tax expense for Year 4?
A. $42,500
B. $67,500
C. $80,000
D. $82,500
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