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For the year 2016, Airwright reports pretax financial income of $900,000. Included in the $900,000 are fines for $10,000 and interest on tax exempt bonds

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For the year 2016, Airwright reports pretax financial income of $900,000. Included in the $900,000 are fines for $10,000 and interest on tax exempt bonds for $20,000. Accounting depreciation is $30,000 and depreciation for tax purposes is $25,000. Assuming a tax rate of 40%, what is Airwright's Income taxes payable for the year 2016. a. $354,000 b. $358,000 c. $374,000 d. $360,000

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