Kraft Company made the following journal entry in late 2018 for rent on property it leases to Danford Corporation." Cash Unearned Rent Revenue 150,000 150,000 3 points The payment represents rent for the years 2019 and 2020, the period covered by the lease. Kraft Company is a cash basis taxpayer. Kraft has income tax payable of $230,000 at the end of 2018, and its tax rate is 35%. What amount of income tax expense should Kraft Company report at the end of 2018? 132,500 177,500 203,750 282,500