Krafty Foods had a balance in its prepaid insurance account of $62,400 on December 31, 20x1. During 20x2, Krafty paid $100,000 for insurance. At the end of 20x2, after adjusting entries were recorded, the balance in the prepaid insurance account was $49,000. What is the amount of accrual basis insurance expense for 20x2?

$13,400

$113,400

$162,400

$100,000