Hopkins Co. at the end of 2012, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: Pretax financial income: $900,000 Estimated litigation expense: $1,200,000 Extra depreciation for taxes: $(1,800,000) Taxable income: $300,000 The estimated litigation expense of $1,200,000 will be deductible in 2013 when it is expected to be paid. Use of the depreciable assets will result in taxable amounts of $600,000 in each of the next three years. The income tax rate is 30% for all years. Income tax payable is

$0.

$90,000.

$180,000.

$270,000.