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Multiple Choice Question 72 Oriole Company deducts insurance expense of $234000 for tax purposes in...

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Multiple Choice Question 72 Oriole Company deducts insurance expense of $234000 for tax purposes in 2018, but the expense is not yet recognized for accounting purposes. In 2019, 2020, and 2021, no insurance expense will be deducted for tax purposes, but $80000 of insurance expense will be reported for accounting purposes in each of these years. Oriole Company has a tax rate of 40% and income taxes payable of $202000 at the end of 2018. There were no deferred taxes at the beginning of 2018 Assuming that income taxes payable for 2019 is $188000, the income tax expense for 2019 would be what amount? $220000 O $281600 $188000 O $156000 Click if you would like to Show Work for this question: Open Show Work

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