A company reported net income of $400,000 on its year 2 audited financial statements. The company reported $240,000 in tax expenses to arrive at its net income for financial statement purposes in year 2, as detailed below:

Federal Income tax paid to the IRS $150,000

State income tax paid to state Q $50,000

Foreign income tax paid to country M $20,000

Property tax paid to state Q $15,000

Sales tax paid to state Q $5,000

The company will not take the foreign tax credit. What is the company's deduction for taxes paid on its Year 2 federal income tax return?

A) $70,000

B) $90,000

C) $170,000

D) $240,000