Amr Corporation reports the following results for 2015:

Taxable Income 400,000

Federal income taxes per books 135,000

Tax Exempt Interest Income 80,000

Interest on loans to purchase tax exempt bonds 20,000

Book Depreciation exceeding tax depreciation 30,000

Net Capital Gain 25,000

Insurance Premium on life of Corporate Officer 5,000

Excess Charitable contributions carried over to next year 15,000

NOL carryover to 2015 40,000

Compute Income Per Books after Tax