A firm reports a value of $60,000 of inventory for financial reporting purposes. The tax basis of the inventory account is $42,000. The beginning balance in the deferred tax account is based on a tax rate of 25%. However, during the year, the tax rate changed to 40%. The firm reports taxable income of $200,000 for the year. What is the amount of income tax expense to report? O $50,000 O $82,700 O $52,700 O $54,500 O $77,300