Kimberly Corp. reported the following financial information for 2020, its first year of operations:

Income tax payable	$350,000
Tax depreciation expense in excess of book depreciation	80,000
Unearned revenue	40,000
Income from municipal bonds	30,000
Prepaid expenses	15,000

Kimberlys 2020 tax rate is 40%, and Kimberly expects to realize all book-tax differences. What is Kimberly Corp.s book income including permanent differences?

a. $960,000

b. $1,040,000

c. $930,000

d. $800,000