On December 31, 2021, Monsters Inc. received cash in advance for rent and properly recorded it as unearned rent revenue. However, for tax purposes, the cash received is taxable in 2021. No other differences exist between book income and taxable income. Monsters Inc. reports the following information for 2021:

Item	Amount
Unearned rent revenue	$156,000
Income tax payable	$109,000
Tax rate for all years	39%

What amount of income tax expense should Monsters Inc. report on its income statement for 2021?

$60,840

$48,160

$169,840

$400,000