For the year ending December 31, 2019, the RJ Corporation reported book income before taxes of $579,000. During 2019: RJ's book depreciation expense was $25,000 greater than what was allowed for tax purposes due to a reversing difference; RJ accrued $17,750 of warranty expense which is not deductible until 2020. RJ recognized a $29,000 unrealized holding loss on an investment which is not deductible for tax purposes until it is sold. RJs book income included non-taxable municipal bond interest of $19,500. What was RJs 2019 income tax expense assuming a tax rate of 40%.

a. $252,500

b. $231,600

c. $223,800

d. $232,500