Multiple Choice Question 72 Wildhorse Company deducts insurance expense of $243000 for tax purposes in 2018, but the expense is not yet recognized for accounting purposes. In 2019, 2020, and 2021, no insurance expense will be deducted for tax purposes, but $68000 of insurance expense will be reported for accounting purposes in each of these years. Wildhorse Company has a tax rate of 40% and income taxes payable of S180000 at the end of 2018. There were no deferred taxes at the beginning of 2018. Assuming that income taxes payable for 2019 is $208000, the income tax expense for 2019 would be what amount? O $235200 O $208000 O $180800 O $305200