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What amount should Tyre report as current income tax

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Question - For the year ended December 31, 2017, Tyre Co. reported pre-tax financial statement income of $750,000. Its taxable income was $650,000. The difference is owing to accelerated depreciation for income tax purposes. Tyre's effective income tax rate is 30%, and Tyre made estimated tax payments during 2017 of $90,000.

Required - What amount should Tyre report as current income tax expense for 2017?

a. $105,000

b. $225,000

c. $135,000

d. $195,000

Reference no: EM132535817

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