At the end of 2023, its first year of operations, Novak Corp. prepared the following reconciliation between pre-tax accounting income and taxable income: The estimated lawsuit expense of $747000 will be deductible in 2025 when it is expected to be paid. The instalment sales will be realized at $311000 in each of the next two years. The income tax rate is 30% for all years. The total income tax expense to be reported on the income statement is
a.$311000.
b.$155500.
c.$93300.
d.$130800.
