Cold, inc., reported a $100,000 total tax expense for financial statement purposes in year 1. this total expense consisted of $150,000 in current tax expense and a deferred tax benefit of $50,000. the deferred tax benefit consisted of $90,000 in deferred tax assets reduced by a valuation allowance of $40,000. in year 2, cold reports $600,000 in book net income before tax. cold records no other permanent or temporary book-tax differences. at the end of year 2, cold's auditors determine that the existing valuation allowance of $40,000 should be reduced to zero. what is cold's total tax expense for year 2?