Beaver Corporation, organized on January 3, 2021, had pretax accounting income of $640,000 for the year ended December 31, 2021. The 2021 tax rate is 25%. The only difference between accounting income and taxable income is estimated product warranty costs. Assume that expected payments and scheduled tax rates (based on recently enacted tax legislation) are as follows: 2022 $60,000 20% 2023 $50,000 20% 2024 $30,000 20% 2025 $20.000 15% The amount of Beaver's 2021 net income would be: O $471,000 O $631,000 O $506,000 O $589,000