A firm reported the following deferred tax accounts for the year 2019: 1/1/19 12/31/19 Deferred tax asset ................... Deferred tax liability $13,000 38,000 $ 16,000 30,000 Current taxes payable for the year 2019 were $175,000. Assume that the statutory tax rate did not change during the year and that there were no loss carryforwards applied (used) during the year. The tax expense (reported on the income statement) for the year 2019 is: A) $159,000 B) $164,000 C) $170,000 D) $180,000 E) $186,000