12. On December 31, 2021, Amazing Corp. received cash in advance for rent and properly recorded it as unearned rent revenue. However, for tax purposes, the cash received is taxable in 2021. No other differences exist between book income and taxable income. Amazing Corp. reports the following information for 2021: Item Amount Unearned rent revenue $156,000 Income tax payable $119,000 Tax rate for all years 39% What amount of income tax expense should Amazing Corp. report on its income statement for 2021? $58,160 $179,840 $400,000 $60,840