Bare Fashions Corp What Amount Should Bare Fashion Report as Its Current Income

Bare Fashions Corp. reported pre-tax accounting income of $ 300,000 for calendar 2020. To calculate the income tax liability, the following data were considered: $\begin{array}{lr}\text { Life insur ance proceeds on the death of the CEO } & \$ 130,000 \\\text { CCA in excess of depreciation } & 20,000 \\\text { Instalment tax payments made dur ing } 2020 & 25,000 \\\text { Enacted income tax rate for } 2020 & 30 \%\end{array}$ What amount should Bare Fashion report as its current income tax liability on its December 31, 2020 SFP?

A) $ 20,000
B) $ 26,000
C) $ 45,000
D) $ 51,000