Smith Company Reported $350,000 in Book Income Before Income Tax

Smith Company reported $350,000 in book income before income tax during 2015, its first year of operation. The tax depreciation exceeded its book depreciation by $30,000. The tax rate for 2015 and all future years was 40%.
-If Smith paid no estimated taxes,what amount of income taxes payable should Smith report in its December 31,2015,balance sheet?

A) $100,000
B) $120,000
C) $128,000
D) $140,000