Maple Crest Ltd. reports accounting income before income tax…
Maple Crest Ltd. reports accounting income before income taxes of $300,000 for 2026. The income tax rate is 25%. Additional information: At the beginning of 2026, Maple Crest had a deferred tax liability of $6,000 related to $24,000 of revenue recognized for accounting purposes in 2025 but not yet taxable. During 2026, $15,000 of that receivable was collected and became taxable. Maple Crest recognized an additional $18,000 of revenue for accounting purposes during 2026. Only $6,000 was collected and taxable during the year. At the beginning of 2026, Maple Crest had a deferred tax asset of $5,000 related to a $20,000 warranty obligation. During 2026, warranty expense of $10,000 was recorded and warranty costs of $14,000 were paid and deducted for tax purposes. Non-deductible fines of $8,000 were recorded during 2026. What is Maple Crest’s total income tax expense for 2026?