Provo, Inc. has an estimated annual tax rate of 35 percent in the first quarter of 2013. Pretax income for the first quarter was $300,000. At the end of the second quarter of 2013, Provo expects the annual tax rate to be 32 percent because of anticipated tax credits. Pretax income for the second quarter was $350,000. Assume no items in either quarter requiring the net-of-tax presentation. How much income tax expense is recognized in the secound quarter of 2013?

answer is 103,000 not sure how this is calculated?