X Corporation started business on January 1, 2020 (its first year of operation), and the journal entry for Income Taxes is recorded at the end of the year 2020 was Income Tax Expense $49,000 Income Tax Payable 48,000 Deferred Tax Liability 1,000 The tax rate for 2020 and for future years is 20% The deferred tax liability of $1,000 was resulted from the prepaid Insurance expenses that are deducted on the tax return in the period paid. If $30,000 was deducted from the tax return in 2020, what was the Insurance Expense recognized in the financial income statement of the X Corporation. The Insurance Expense reported in computing financial income was