Pharoah Corporation prepared the following reconciliation for its first year of operations:

Pretax financial income for 2021	$2000000
Tax exempt interest	(154000)
Originating temporary difference	(358000)
Taxable income	$1488000

The temporary difference will reverse evenly over the next 2 years at an enacted tax rate of 30%. The enacted tax rate for 2021 is 25%. In Pharoahs 2021 income statement, what amount should be reported for total income tax expense?

$500000

$479400

$372000

$546200