Martinez Company reports pretax financial income of $68,200 for 2020. The following items cause taxable income to be different than pretax financial income. Depreciation on the tax return is greater than depreciation on the income statement by $16,900. 1 2 Rent collected on the tax return is greater than rent recognized on the income statement by $23,600. 3. Fines for pollution appear as an expense of $11.800 on the income statement. Martinez's tax rate is 30% for all years, and the company expects to report taxable income in all future years. There are no deferred taxes at the beginning of 2020. (a) x Your answer is incorrect. Compute taxable income and income taxes payable for 2020.