Monika Company purchased a new Twinky Stuffing machine on January 1, 2019 for $160,000. The machine will last for 8 years and then be worthless. For financial reporting purposes, the company uses straight-line depreciation. (The company takes 12 year depreciation in the year of purchase and 72 in the year of sale). The Twinky Stuffer is considered 5-year property for tax purposes. The tax rate is 30% and the company pays current year taxes in the following year. The MACRS percentages for 5-year property are: 20.00; 32.00; 19.20; 11.52; 11.52; and 5.76. The company receives $10,000 in municipal bond interest each year. The company earned $300,000 before depreciation and taxes. (You may use this $300,000 income before depreciation and taxes for future years, also). The tax expense for 2019 will be A. $ 54,180 B. $ 58,800 C. Some other number D. $ 63,000 E. $ 60,600