Wool company actual earnings for the first two quarters of 2019 and its estimate during each quarter of its annual earnings are: Actual first quarter earnings $500,000 Actual second quarter earnings $500,000 First quarter estimate annual earnings 2,000,000 Second quarter estimate of annual earnings $2,500,000 Wool Company estimates its permanent differences between accounting income and taxable income for 2019 as: Environmental violation penalties $50,000 Dividend income exclusion $200,000 These estimates did not change during the second quarter. The combined state and federal tax rate for wool Company for 2019 is 50%. Required: Calculate first quarter "estimated annual income tax". Select one: O a $3,000,000 O b. $3,100,000 O c. $1,750,000 O d. $2,250,000