49er Company reports $137,000 in pretax financial income on December 31, 2020. The company reported the following differences between U.S. GAAP and the internal revenue code: $5.000 in municipal bond interest revenue, which is not taxable under the IRC. $8,000 in GAAP depreciation compared to $7.300 under the IRC. Calculate the taxes payable under the IRC, If 49er's tax rate is 35%