14. CollCompany's booknet income was $350,000 for the first quarter of 2016, Coll expects to have book income of $1,600,000 for the entire 2016 year. Coll's estimated difference between taxablcand book income for 2016 was $100,000 due to a dividend received deduction. Coll's tax rate on all taxable income for the yearis 40%. In the first quarter of 2016, Coll should record income tax expense of a) zero. b) $131,250. c) $140,000 d) $600,000