ABC Co., an accrual basis, calendar year corporation, reported $7,289,200 net income before tax on its financial statement prepared in accordance with GAAP. The corporate records reveal the following information:

• The allowance for bad debts on January 1 was $104,700. Write-offs for the year totaled $113,228, and the addition to the allowance for the year was $105,000.
• ABC Co. incurred $22,000 of entertainment costs and $32,000 of business meals.
• At its December 16 meeting, ABC Co. board of directors authorized a $100,000 salary bonus for the corporation's CEO. ABC Co. paid the bonus to the CEO on January 4. The CEO owns 62% of ABC Co. outstanding stock.
• ABC Co. was incorporated last year. On its first tax return, it reported a $334,712 net operating loss.

Compute ABC Co. taxable income.