For its first year of operations, Tringall 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 Tringalls tax rate is 25% Assume that no estimated taxes have been paid. What should Tringall report as income tax payable for its first year of operations? Multiple Choice $75,000