ABC Co., a calendar year corporation, reported $4,561,000 net income before tax on its financial statements prepared in accordance with GAAP. The corporate records reveal the following information.

A. ABC Co. depreciation expense per books was $50,250 and its MACRS depreciation deduction was $97,720.

B. ABC Co. capitalized $23,760 indirect expenses to manufactured inventory for book purposes and $84,200 indirect expenses to manufactured inventory under the UNICAP tax rules.

C. ABC Co. cost of goods sold for book purposes was $1,039,800, and its cost of goods sold for tax purposes was $1,107,200.

D. ABC Co. purchased a competitor's business on March 1 and allocated $468,000 to the business' goodwill.

Required: Compute ABC Co. taxable income.