Crestview Electric Company is required to make instalments for income tax, so they submitted the same amount on the first day of every month of the year. On December 31 they made an adjusting journal entry to debit Income Tax Expense for $8,760 and to credit Income Tax Payable for $8,760. If their total income tax expense was $200,760, what was the amount of each monthly instalment? Select answer from the options below $16,730 $17,455 $17,397 $16,000

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