Kemp Corporations income statement for the year ended December 31, year 7, shows pretax income of $500,000. The following items are treated differently on the tax return and on the accounting records.

Tax Return Accounting Records

Rent income $ 35,000 $ 60,000

Depreciation expense 140,000 110,000

Premium on officer's life insurance none 45,000

Kemps tax rate for year 7 is 40%. What is the current portion of Kemps total income tax expense for year 7? $218,000

$200,000

$196,000

$178,000