Hound, Inc. had pre-tax accounting income of $2,700,000 and a tax rate of 40% in 2018, its first year of operations. During 2018 the company had the following transactions:Received rent from Blue, Co. for 2019$ 96,000Municipal bond income$120,000Depreciation for tax purposes in excess of book depreciation$60,000Installment sales profit to be taxed in 2019$162,000

For 2018, what is the amount of income taxes payable for Rowen, Inc?a. $904,800b. $981,600c. $1,029,600d. $1,159,200