3.

Bulldog Incorporated is a Georgia corporation. It properly included, deducted, or excluded the following items on its federal tax return in the current year:

Item Amount Federal Treatment

Georgia Income Taxes $25,496 Deducted on federal return

Tennessee Income Taxes $15,653 Deducted on federal return

Washington Gross Receipts Tax $3,105 Deducted on federal return

Georgia Bond Interest $10,000 Excluded from federal return

Federal T-Note Interest $4,500 Included on federal return

Domestic Production Act. Ded. (DPAD) $15,096 Deducted on federal return

Bulldogs federal taxable income was $194,302. Calculate its Georgia state tax base.