Aurora Forest Products Ltd. reports accounting income before…
Aurora Forest Products Ltd. reports accounting income before income taxes of $460,000 for 2026. The current income tax rate is 25%. Additional information: Meals and entertainment expense of $10,000 was recorded. Only 50% is deductible for tax purposes. Non-taxable dividend income of $20,000 was included in accounting income. The opening deferred tax asset was $4,000 and related to a $16,000 warranty obligation. During 2026, warranty expense of $12,000 was recorded and warranty costs of $20,000 were paid and deducted for tax purposes. The opening deferred tax liability was $10,000 and related to a $40,000 PPE taxable temporary difference. During 2026, CCA exceeded accounting depreciation by $24,000. A future income tax rate of 20% was substantively enacted during 2026 and is expected to apply when the remaining temporary differences reverse. What total income tax expense should Aurora Forest Products report for 2026?