In 2022, Acme Company in its fifth year of operations reported Financial Statement Net income of $300,000 and tax return net income of $215,000. The difference between book and tax is due to the following: On its financial statement, it reported $20,000 of depreciation expense and $100,000 in depreciation expense on the tax return, and the company reported non-taxable municipal bond income of $5,000. Based upon review of the book depreciation schedule and the tax depreciation schedule, it is determined that the company has taken $115,000 more in tax depreciation than book depreciation (cumulative) through the end of 2022, and the amount will reverse in subsequent years. In addition, cumulative through the end of 2022, the company had recognized $15,000 more in revenue on its tax return than on its financial statement. At the beginning of the year 2022, the company had a $7,000 balance in its deferred tax liability account, and 3000 in its deferred tax asset account. What is the companys tax expense in 2022? The tax rate for all years is 20%.