After deducting depreciation for accounting purposes worth $20,000, the accounting profit of James Ltd for the year ended 31st December 2019 is $80,000. The depreciation allowable for tax purposes is $30,000. The current tax rate is 30%. Calculate the taxable profit and current tax liability.

Select one:

a. Taxable profit $80,000 and current tax liability $24,000

b. Taxable profit $70,000 and current tax liability $21,000

c. Taxable profit $90,000 and current tax liability is $27,000

d. Taxable profit $20,000 and current tax liability $6,000