Sand engaged in operations at the start of 20X1 and reported $550,000 in pre-tax book income for the year. Tax depreciation for Sand exceeded book depreciation by $50,000. The tax rate for 20X1 was 25%, and Congress had enacted a tax rate of 21% for the years after 20X1.

What is the current portion of the income tax expense for Sand for 20X1?

Multiple Choice

• $83,333

• $150,000

• $137,500

• $125,000