DAC's partial income statement for its first year of operations is as follows

Income before income taxes $1,400,000

Income tax expense

Current $ 386,400

Deferred 33,600 (420,000)

Net income $ 980,000

DAC uses straight-line depreciation for financial reporting purposes and CCA for tax purposes. The depreciation expense for the year was $560,000. Except for depreciation, there were no other differences between accounting income and taxable income.

What amount was claimed for CCA on the corporation's tax return for the year?

Select one:

a.

$448,000

b.

$532,000

c.

$560,000

d.

$672,000

e.

none of the above amounts are correct.