Altoona Corporation's reconciliation of pretax accounting income to taxable income is as follows (hirst year of operations): 3 Pretax accounting income Permanent difference $210,000 (14,188) 195,900 (20,700) $175,200 3 points Temporary difference-depreciation Taxable income 805250 Altoona's tax rate is 25%. Assume that no estimated taxes have been paid. What should Altoona report as its income tax expense for its first year of operations? Multiple Choice $52,500. $48,975 O S43,800