On January $1,2025,$ Pharoah Corporation changed to the percentage$-$of$-$completion method of income recognition. This change is justified by Pharoah Corporation. On December $31,2024,$ Pharoah's Retained Earnings balance was $$1670000.$ Pharoah calculated that, if the percentage$-$of$-$completion method had been used, the accumulated impact on net income $($before taking into consideration any income tax effects$)$ would have been an additional $$370000$ of revenue in $2024.$ If Pharoah's income tax rate is $25\%,$ one of the impacts of this accounting change would be

$$ an increase to Income Tax Expense of $$92500$ in $2025.$

a decrease to Income Tax Payable of $$92500.$

an increase to Income Tax Payable of $$92500.$

an increase to Construction in Progress of $$277500$ on December $31,2024.$