Catchall Company reports pretax financial income of $100,000 for 20x7. The following items cause taxable income to be different than pretax financial income. 1. Depreciation on the tax return is greater than depreciation on the income statement by $20,000. 2. Rent collected on the tax return is greater than rent recognized on the income statement by $30,000. 3. Interest on a municipal bond appears as a revenue of $10,000 on the income statement. 4. Prepaid insurance resulted in $2,000 less expenses on the income statement. Catchall's tax rate is 20% for all years, and the company expects to report taxable income in all future years. There are no deferred taxes at the beginning of 20X7.