Ivy Group reported income from continuing operations before taxes of$608,000 and income from discontinued operations of $234,000.

Ivy also reported $78,000 of unrealized gains from availableforsale debt investments (fair value accounting adjustments) recorded as other comprehensive income.

The company is subject to a 48% tax rate and reports no permanent differences. How much income tax expense does Ivy report as a line item directly below "Income from Continuing Operations before Taxes"?

Answer is $ 291,840.

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