Current Attempt in Progress

On January $1,2025,$ Ivanhoe Corporation changed to the percentage$-$of$-$completion method of income recognition. This change is justified by Ivanhoe Corporation. On December $31,2024,$ Ivanhoe's Retained Earnings balance was $\backslash (\backslash$$ $1540000\backslash ).$ Ivanhoe calculated that, if the percentage$-$of$-$completion method had been used, the accumulated impact on net income $($before taking into consideration any income tax effects$)$ would have been an additional $\backslash (\backslash$$ $240000\backslash )$ of revenue in $2024.$ If lvanhoe's income tax rate is $\backslash (25\backslash \%\backslash ),$ one of the impacts of this accounting change would be

a decrease to Income Tax Payable of $\backslash (\backslash$$ $60000\backslash ).$

an increase to Income Tax Payable of $\backslash (\backslash$$ $60000\backslash ).$

an increase to Income Tax Expense of $\backslash (\backslash$$ $60000\backslash )$ in $2025.$

an increase to Construction in Progress of $\backslash (\backslash$$ $180000\backslash )$ on December $31,2024.$