In 2020, Sandhill Corporation had pretax financial income of $172,000 and taxable income of $109,000. The difference is due to the use of different depreciation methods for tax and accounting...

In 2020, Sandhill Corporation had pretax financial income of $172,000 and taxable income of $109,000. The difference is due to the use of different depreciation methods for tax and accounting purposes. The effective tax rate is 20%.


Compute the amount to be reported as income taxes payable at December 31, 2020.