Synthia Manufacturing Corpora-tion reported pre- tax GAAP income of $ 3,250,000 for the current year.

• The change in the difference in the basis of plant assets is $ 430,000, where the book basis is higher than the tax basis.

• $ 12,000 of the Synthia’s pre- tax GAAP income is non- taxable income from municipal bonds.

• At the beginning of the current year, Synthia’s estimated warranty liability had a balance of $ 67,000. Actual repairs cost $ 55,000 and the company accrued an additional $ 72,000 for the current year.

• Synthia paid fines of $ 100,000 to the federal government for not complying with relevant regulations. Prepare the journal entry required to record the tax expense for the current year assuming a 40% income tax rate.