A Corp has a net income per books of $108,750. The following book-tax differences were found:

1. Federal income tax expense per books is $22,837
2. Equipment with a book value of $20,000 was sold for $15,000. Tax basis was $0.
3. Meals totaled $1,000.
4. Fervor paid $8,000 in life insurance premiums on key employees.
5. Tax depreciation is $175,500.
6. Book depreciation under straight line is $20,000.
7. Fervor incurred a net capital loss of $3,000.

What is the taxable income before NOL & DRD?