Oakley Company reported income before taxes (pretax financial income) in its income statement of $50,000. Among the items included in the computation of pretax financial income were the following: Non-taxable interest revenue from municipal bonds $22,000 Expenses not deductible for income tax purposes 10,000 Warranty expenses (not tax deductible until actually provided; none provided this year) 5,000 The income tax rate is 40%. What is the amount of income tax that should be PAID this year? $15,200 $11,200 $20,000 $17,200