Question 8 1 pts The following information is provided for Able Ltd: . Taxable income for the year is $500,000 There was an increase in deferred tax asset for the year of $60,000 There was a decrease in deferred tax liability for the year of $80,000 There was a gain on revaluation of plant (before tax) of $120,000 Tax rate is 30%. What is the income tax expense of Able Ltd for the year in accordance with the requirements of AASB112 Income Taxes? Increase $206,000 Decrease $26,000 Decrease $46,000 O Increase $134,000