The following facts relate to Fischer Corporation.

1.		Deferred tax liability, January 1, 2020, $24,000.
2.		Deferred tax asset, January 1, 2020, $0.
3.		Taxable income for 2020, $114,000.
4.		Pretax financial income for 2020, $240,000.
5.		Cumulative temporary difference at December 31, 2020, giving rise to future taxable amounts, $288,000.
6.		Cumulative temporary difference at December 31, 2020, giving rise to future deductible amounts, $42,000.
7.		Tax rate for all years, 20%.
8.		The company is expected to operate profitably in the future.

Compute income taxes payable for 2020.

Question 22 options:

a)

$114,000.

b)

$48,000.

c)

$22,800.

d)

$24,000.