Illusions Inc. just completed its second year of operations and has a deferred tax asset of $47,500 related to a net operating loss of $125,000 from the previous year. In the current year Illusions generates $400,000 in revenues and incurs $250,000 in expenses. There are no permanent or temporary book-tax differences. Assuming the same tax rate as last year, what amount will Illusions record for Income Tax Payable in the current year?