Assume the following facts for Moore Company in 2015: Book income before tax: $800,000. The following items were included in income: Interest income of $80,000 was received from an investment in municipal bonds. This income is exempt for tax purposes. Rent income of $20,000 was collected in 2014 and included for tax purposes. For book purposes, it was reported as earned in 2015. The following items were deducted from income: An asset was purchased during 2015, and depreciation for book purposes was $40,000. There was $100,000 deducted for tax purposes. Warranty expense of $20,000 was recognized for book purposes, while $5,000 was recognized for tax purposes. (Assume a one-year warranty contract.) The balance of the Deferred Tax Asset account (debit) at January 1, 2015, was $8,000 as a result of the rent income temporary difference. The tax rate for all years was 40 percent. What is the amount of taxable income for tax purposes? 655,000 625,000 735,000 755,000