Accord Inc. income tax return shows taxes currently payable for 2006 of $85,000. The company reported deferred tax assets of $35,000 at the end of 2005 and $24,000 at the end of 2006. Accord reported deferred tax liabilities of $48,000 at the end of 2006 and $54,000 at the end of 2006.
Determine the amount of income tax expense reported by Accord for 2006.

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The Answer of Accord Inc. income tax return shows taxes currently payable for 2006 of $85,000. The company reported deferred tax assets of $35,000 at the end of 2005 and $24,000 at the end of 2006. Accord reported deferred tax liabilities of $48,000 at the end of 2006 and $54,000 at the end of 2006.
Determine the amount of income tax expense reported by Accord for 2006.