01:18:49 Tot yel aniSveicu Marked out of 1.00 13 Wool company actual earnings for the first two quarters of 2019 and its estimate during each :quarter of its annual earnings are Actual first quarter earnings $500,000 Actual second quarter earnings $500,000 First quarter estimate annual earnings $ 2,000,000 Second quarter estimate of annual earnings $2,500,000 Wool Company estimates its permanent differences between accounting income and taxable income for 2019 as Environmental violation penalties $50,000 Dividend income exclusion $200,000 These estimates did not change during the second quarter. The combined state and federal .tax rate for wool Company for 2019 is 50% :Required tinatacanneli These estimates did not change during the second quarter. The combined state and federal .tax rate for wool Company for 2019 is 50% Required Calculate first quarter "estimated annual income ."tax :Select one a. $3,100,000 b. $3,000,000 c. $1,750,000 d. $2,250,000