William co. reported $550,000 in financial book income before taxes for year 3 tax depreciation for the year exceeded book depreciation by $50,000 the tax rate for year 3 was 30% and congress enacted a tax rate of 40% for years after year 3 if William paid no estimated taxes what is the amount of income tax payable reported on William’s balance sheet at December 31, year 3?
a-120,000
b-122,500
c-150,000
d-170,000