The following information was taken from the accounting records of Lancer Inc, for the year ending 2020.   Pretax accounting income                                         $ 1,500,000 Interest Revenue on Municipal bonds                             100,000 Litigation expense                                                             2, 000,000 Excess Depreciation for tax purposes                            1, 300,000 Deferred revenue                                                                  200,000 The tax rate for 2020 is 40%   The total taxable income computed by Lancer for 2020 should be :       A) $2,300,000     B) $4.900,000

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