Caroline Company began operations in 2018. The company reported $128,000 of depreciation expense on its income statement in 2018 and $84,000 in 2019. On its tax returns, the company deducted $192,000 for depreciation in 2018 and $112,000 in 2019. The 2019 tax return shows a tax obligation (liability) of $132,000 based on a 25% tax rate.

What is Carolines income tax expense for 2019?

a) $76,800

b) $139,000

c) $44,800

d) $99,200