3. In January 2011, Abel Company paid $250,000 in property taxes on its plant for the calendar year 2011. Also in January 2011, Abel estimated that its year-end bonuses to executives for 2011 would be $900,000. What is the amount of expenses related to these two items that should be reflected in Abel's quarterly income statement for the three months ended June 30, 2011 (second quarter)?

4. For interim financial reporting, a company's income tax provision for the second quarter of 2011 should be determined using the

a. statutory tax rate for 2011.

b. effective tax rate expected to be applicable for the full year of 2011 as estimated at the end of the first quarter of 2011.

c. effective tax rate expected to be applicable for the full year of 2011 as estimated at the end of the second quarter of 2011.

d. effective tax rate expected to be applicable for the second quarter of 2011.