Crane Co. at the end of 2020, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: Pretax financial income $1170000 Estimated litigation expense 2950000 Installment sales Taxable income (2360000) $1760000 The estimated litigation expense of $2950000 will be deductible in 2022 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $1180000 in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $1180000 current and $1180000 noncurrent. The income tax rate is 20% for all years. The income tax expense is $352000. $1180000. O $590000. O $234000.