For the year ended December 31, year 1, Tyre Co. reported
pretax financial statement income of $750,000. Its taxable income
was $650,000. The difference is due to accelerated depreciation
for income tax purposes. Tyre’s effective income tax rate
is 30%, and Tyre made estimated tax payments during year 1 of $90,000. What amount should Tyre report as current income tax
expense for year 1?