For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income Permanent difference $ 300,000 (15,000) 285,000 (20,000) $ 265,000 Temporary difference-depreciation Taxable income Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as its income tax expense for its first year of operations? Multiple Choice O $75,000 O $5,000 $66,250 Prev 14 of 15 www www www Next >

For its first year of operations, Tringali Corporation's reconcilistion of pretax accounting income to taxable income is as follows: Tringalis tax rate is 25\%. Assume that no estimated taxes have been paid. What should Tringali report as its income tax expense for its first year of operations? Muriple Choice $15000 35,000 566250