In 2025, Ivanhoe Company discovered an error while preparing its financial statements. A building constructed at the beginning of 2024 costing $1350000 has not been depreciated. The estimated useful life of the building is 30 years with no salvage value. Straight- line depreciation is used. Ivanhoe also used straight-line depreciation for tax purposes and properly included depreciation on its tax return. Income tax payable was also reported correctly at a tax rate of 20%. Income before tax and depreciation expenses in 2025 was $450000. What would be the 2025 net income if depreciation had been recorded properly? O $324000 $414000 O $405000 O $450000 eTextbook and Media

In 2025, Ivanhoe Company discovered an error while preparing its financial statements. A building constructed at the beginning of 2024 costing $1350000 has not been depreciated. The estimated usefullife of the building is 30 years with no salvage value 5t taightline depreciation is used. Ivanhoe also used straight-line depreciation for tax purposes and properly included depreciation on its tax return. income tax payable was also reported correctly at a tax rate of 20%. Income before tax and depreciation expenses in 2025 was $450000. What would be the 2025 net income if depreciation had been recorded properly? $324000 $414000 $405000 $450000