Pluto Inc. began operations at the beginning of 2019. The accounting records of Pluto Inc. show the following data for 2019.

1. Equipment was acquired in early January for $400,000. For financial reporting purposes, straight-line depreciation over a 5-year life is used, with no residual value. For tax purposes, Pluto used accelerated depreciation method and assigned a 30% rate to calculate depreciation.
2. Product warranty expenses accrued for financial reporting purposes amounts $50,000 in 2019. Actual repair and labor costs related to the warranties in 2019 were $10,000 (all paid by cash). The remainder is estimated to be paid in 2020.
3. Sales on an accrual basis were $125,000. For tax purposes, $100,000 was recorded on the installment-sales method.
4. Interest revenue on governmental bonds (which is tax exempted) totaled $4,000.
5. Fines incurred for pollution violations were $3,200.
6. Pretax financial income was $1,400,000. The tax rate for all years is 30%.

Calculate the income tax expense under IFRS.