Boilermaker Inc. reported taxable income of $630,000 this year and paid federal income taxes of $214,200. Not included in the companys computation of taxable income is tax-exempt income of $48,500, disallowed meals and entertainment expenses of $47,500, and disallowed expenses related to the tax- exempt income of $2,500. Boilermaker deducted depreciation of $160,000 on its tax return. Under the alternative (E&P) depreciation method, the deduction would have been $76,000. Compute the companys current E&P.

Tax income-----

Tax-exempt interes-----

Expenses related to tax exempt income-----

Federal income taxes------

Meals and entertainment-------

Depreciation----------

Current E & P---------