Use the following information for Questions 24 and 25: For its first year of operations, Tringali Corporation's reconciliation of pretax accounting income to taxable income is as follows: Pretax accounting income Permanent difference $ 300,000 (15,000) 285,000 (20,000) $265.000 Temporary difference-depreciation Taxable income Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. 24. What should Tringali report as income tax payable for its first year of operations? A) $75,000 B) $71,250 C) $66,250. D) $5.000 25. What should Tringali report as its deferred tax liability as of the end of its first year of operations? A) $35,000 B) $20,000 C) $8,750 D) $5,000