Amazingly, a firm began the year with no deferred tax balances. Information for the current year: pretax accounting income is $200,000. Also, common revenues less common expenses net to $214,000. The firm recognized $40,000 of depletion for tax purposes, and $8,000 for the books. On October 1, the firm prepaid $24,000 of rent for the year beginning on that date. Determine income tax expense for the year if the tax rate is 30%.

		a. 50,400
		b. 45,000
		c. 39,600
		d. 48,400
		e. 52,600