25 Bodner Corporation's income statement for the year ended December 31, 2014, shows pretax income of $1,000,000.

The following items are treated differently on the tax return and in the accounting records:

Tax Accounting Return Records

Rent income ........................... $ 70,000 $120,000

Depreciation expense .................. 280,000 220,000

Premiums on officers' life insurance .. -- 90,000

Assume that Bodner's tax rate for 2014 is 30 percent. What is the amount of income tax payable for 2014?

Please show work, thank you