nd Time: 05:26 PM / Remaining: 284 min. ES Question 25 Marigold financial income for Lake Inc. is $258,000, and its taxable income is $86,000 for 2021. Its only temporary difference at the end of the period relates to a $60,200 difference due to excess depreciation for tax purposes. If the tax rate is 20% for all periods, compute the amount of income tax expense to report in 2021. No deferred income taxes existed at the beginning of the year. Income tax expense $ Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SUBMIT