Crestview Electric Company is required to make instalment payments for income tax. They made payments of $15,000 at the end of each month from January to November. On December 31, they made an adjusting journal entry to debit Income Tax Expense for $8,760 and credit Income Tax Payable for $8,760. What is the amount of income tax expense for the year?

A.$171,240

B.$188,760

C.$156,240

D.$173,760