Holmes Builders began operations on January 1, 2013. It reported pretax accounting income in 2013, 2014, and 2015 of $160,000 in each year. The income reported for 2013 includes $46,000 from installment sales of property that will be reported on the tax return when it's collected, in 2014 ($11,200) and 2015 ($34,800). Additionally, the income reported for 2013 includes $56,000 in warranty expense that is deductible when paid. The warranty will be paid out evenly over 2014 and 2015, $28,000 per year. Finally, the income reported for 2013 includes $5,200 interest from investments in municipal bonds. The enacted tax rate is 40% for 2013, and 30% for 2014 - 2015. What amount of income tax expense will Holmes Builders report for the year ended December 31, 2013?