28. The Antarctica Company closes its books annually on December 31, while the city in which it is located has a fiscal year beginning on April I and ending on March 31. Taxes on property are assessed on April 1 of each year. Property taxes in the amount of $360,000 and S390,000 were assessed on April 1, 2019 and 2016, respectively. For the year ended December 31, 2020, the Antarctica Company would report property tax expense of $360,000. $370,000. C. $382,500. d. $390,000.