Water Corporation reports $500,000 of taxable income for the current year. The following additional information is available:

• For the current year, Water reports an $80,000 long-term capital loss and no capital gains.

• Taxable income includes $80,000 of dividends from a 10%-owned domestic corporation.

• Water paid fines and penalties of $6,000 that were not deducted in computing taxable income.

• In computing this year's taxable income, Water deducted a $20,000 NOL carryover from a prior tax year.

• Taxable income includes a deduction for $40,000 of depreciation that exceeds the depreciation allowed for E&P purposes.

Assume a 21% corporate tax rate. What is Water's current E&P for this year?