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Crane, Inc. had pre-tax accounting income of $3800000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company

Crane, Inc. had pre-tax accounting income of $3800000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company had the following transactions:

Received rent from Jane, Co. for 2022

$107000

Municipal bond income

$131000

Depreciation for tax purposes in excess of book depreciation

$71000

Installment sales profit to be taxed in 2022$173000

For 2021, what is the amount of income taxes payable for Crane, Inc?

A $663600

B $706400

C $732600

D $804000

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