For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows:

Pretax accounting income $ 230,000

Permanent difference (14,600)

215,400

Temporary difference-depreciation (20,700)

Taxable income $ 194,700

Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as income tax payable for its first year of operations?

Multiple Choice

$57,500

$5,175

$48,675

$53,850