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 $390,000 (14, 500) 375, 500 (20, 400) $355, 100 Sharif's tax rate is 25% Assume that no estimated taxes have been paid. What should Sharf report as its income tax expense for its first year of operations? Multiple Choice $88,775 $93.875 $5,100. $97,500. Prov 1 of 22 Next >