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Boilermaker Incorporated reported taxable income of $ 5 9 0 , 0 0 0 this year and paid federal income taxes of $ 1 2

Boilermaker Incorporated reported taxable income of $590,000 this year and paid federal income taxes of $123,900. Not included in the company's computation of taxable income is tax-exempt income of $26,500, disallowed meals and entertainment expenses of $52,000, and disallowed expenses related to the tax-exempt income of $1,100. Boilermaker deducted depreciation of $132,000 on its tax return. Under the alternative (E&P) depreciation method, the deduction would have been $61,250. Compute the company's current E&P.
Note: Negative amount should be indicated with a minus sign.

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