QUESTION 38 Rowen, Inc had pre-tax accounting income of $1,800,000 and a tax rate of 40% in 2020, its first year of operations. During 2020 the company had the following transactions: Received rent from Jano, Co.for 2021 $64,000 Municipal bond income 580.000 Depreciation for tax purposes in excess of book $40,000 depreciation Installment sales revenue to be collected in 2021 What is the proper amount of taxes S108,000 payable for 20207