7.

The following information is available for Sweet Corporation for 2024 (its first year of operations). 1. Excess of tax depreciation over book depreciation, $38,000. This $38,000 difference will reverse equally over the years 2025-2028. 2. Deferral, for book purposes, of $19,800 of rent received in advance. The rent will be recognized in 2025 . 3. Pretax financial income, $276,800. 4. Tax rate for all years, 30%. (a) Compute taxable income for 2024. Taxable income $