In December 2021, Danford Corporation made the following jou…
In December 2021, Danford Corporation made the following journal entry to account for the receipt of rent on a property rented by a customer:Cash$153,000 Unearned Rent Revenue $153,000The payment represents rent for 2022, the period covered by the rental agreement. Imagine that Danford is a cash-basis taxpayer with a taxable income of $932,000 in 2021 and is subject to an income tax rate of 25% for 2021 and future years. If this is the only book-tax difference for the company, what amount of income tax expense should Danford Corporation report for 2021?