Boilermaker Inc. reported taxable income of $735,000 this year and paid federal income taxes of $154,350. Not included in the company's computation of taxable income is tax-exempt income of $34,500, disallowed meals and entertainment expenses of $53,500, and disallowed expenses related to the tax-exempt income of $3,400. Boilermaker deducted depreciation of $110,000 on its tax return. Under the alternative (E&P) depreciation method, the deduction would have been $76,750. Compute the company's current E&P. (Negative amount should be indicated with a minus sign.) $ 735,000 34,500: Taxable income Tax-exempt income Expenses related to tax-exempt income Federal income taxes Meals and entertainment Depreciation Current E&P $ 769,500