Charmed Inc's income before axes is $710,000 and its tax rate is 35%. Charmed included $40,000 in non-deductible life insurance premiums in the $710,000. There are no other book-tax differences. What is the journal entry to record income tax expnse?

A) INCOME TAX EXPENSE 234,500

Income tax payable 237,500 B) Income tax expense 14,000

Income tax payable 14,000 C) Income tax expense 248,500

Income tax payable 248,500 D) Income tax expense 262,500

Income tax payable 262,500