Zeff Co. prepared the following reconciliation of its pretax financial statement income to taxable income for the year ended December 31, its first year of operations:

Pretax financial income	$160,000
Nontaxable interest received on municipal securities	(5,000)
Long-term loss accrual in excess of deductible amount	10,000
Depreciation in excess of financial statement amount	(25,000)
Taxable income	$140,000

Zeffs tax rate for the year is 40%. In its income statement, what amount should Zeff report as income tax expense -- current portion?

A.

$56,000

B.

$52,000

C.

$64,000

D.

$62,000