The following information has been extracted from the accounting records of Company A: Total Revenue $850,000 and Total Expenses before Income Taxes $625,000. Total Expenses include annual depreciation of $45,000 calculated using the straight line method. Company A uses the modified accelerated cost recovery system for tax purposes and has calculated annual depreciation under this method of $50,000. Assuming an income tax rate of 35%, what is the company's income tax expense for the year?