Big Bad Accountants reported the following information for the year: Income before income taxes for the year was $300,000 and the tax rate was 45%. Depreciation expense was $150,000 and CCA was $130,000. Unearned rent revenue was reported at $120,000. Rent revenue is taxable when the cash is received. Membership fees of $10,000 were expensed during the year. These are not deductible for tax purposes. No other items affected deferred tax amounts other than these transactions. Required: a) What is taxable income