Bedford had this info at the end of 2023, its first year of operations:

No other permanent or temporary differences exist. The litigation item will be paid in 2026. The depreciation will reverse evenly over the next three years. Tax rate is 30%. Future net income is probable.

The 12/31/23 Income Tax Payable is:

Select one:

a. $90,000

b. $150,000

c. $180,000

d. $240,000

e. $120,000