Question 1 The following information was taken from the accounting records of Lancer Inc, for the year ending 2020. Pretax accounting income $1,500,000 Interest Revenue on Municipal bonds 100,000 Litigation expense 2,000,000 Excess Depreciation for tax purposes 1,300,000 Deferred revenue 200,000 The tax rate for 2020 is 40% The total taxable income computed by Lancer for 2020 should be