What should Tringali report as income tax payable for its first year of operations?

Multiple Choice:

a. $85,000

b. $76,250

c. $81,100

d. $4,850

For its first year of operations, Tringali Corporation's reconcillation of pretax accounting income to taxable income is as follows: Tringali's tax rate is 25%. Assume that no estimated taxes have been paid. What should Tringali report as income tax payable for its first year of operations