$13.$ Sparrow Corporation $($ a calendar year, accrual basis taxpayer$)$ had the following transactions in $2023,$ its second year of operation:

Taxable income $$330,000$

Federal income tax liability paid $ $69,300$

Tax exempt interest $ $5000$

Business meals expenses $($total$)$ $$3,000$

Premiums paid on key employee life insurance $ $3,500$

Increase in cash surrender value attributable to life insurance: $$700$

Proceeds from key employee life insurance policy: $$130,000$

Cash surrender value of life insurance policy at distribution: $$20,000$

Excess of capital losses over capital gains: $$13,000$

MACRS deduction: $$26,000$

Straight$-$line deprecation using ADS lives: $$16,000$

Section $179$ expense elected in $2022$: $$25,000$

Dividends received from domestic corporations $($less than $20\%$ owned$)$: $$35,000$

Sparrow uses the LIFO inventory method, and its LIFO recapture amount increased by $$10,000$ during $2023.$ In addition, Sparrow sold property on installment during $2022.$ The property was sold for $$40,000$ and had an adjusted basis at sale of $$32,000.$ During $2023,$ Sparrow received a $$15,000$ payment of on the installment sale. Finally, assume that no additional first year depreciation was claimed.

Sparrows Corporation$$s current E & P is $