provo, inc. has an estimated annual tax rate of 15 percent in the first quarter of 2020. pretax income for the first quarter was $700,000. at the end of the second quarter of 2020, provo expects the annual tax rate to be 10 percent because of anticipated tax credits. pretax income for the second quarter was $1,380,000. assume no items in either quarter requiring the net-of-tax presentation. how much income tax expense is recognized in the second quarter of 2020? $103,000. $104,000. $112,000. $122,500. $208,000.