The Antarctica Company Closes Its Books Annually on December 31

Multiple Choice

The Antarctica Company closes its books annually on December 31, while the city in which it is located has a fiscal year beginning on April 1 and ending on March 31. Taxes on property are assessed on April 1 of each year. Property taxes in the amount of $360,000 and $390,000 were assessed on April 1, 2015 and 2016, respectively. For the year ended December 31, 2016, the Antarctica Company would report property tax expense of

A) $360,000.
B) $370,000.
C) $382,500.
D) $390,000.