For its first year of operations, Sharif Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income Permanent difference Temporary difference-depreciation Taxable income $350,000 (15,800) 334,200 (19,900) $314,300 Sharif's tax rate is 25%. Assume that no estimated taxes have been paid. What should Sharif report as its income tax expense for its first year of operations?