Boilermaker Incorporated reported taxable income of $855,000 this year and paid federal income taxes of $179,550. Not included in the company's computation of taxable income is tax-exempt income of $38,000, disallowed meals and entertainment expenses of $54,000, and disallowed expenses related to the tax-exempt income of $3,500. Boilermaker deducted depreciation of $180,000 on its tax return. Under the alternative (E\&P) depreciation method, the deduction would have been $78,750. Compute the company's current E\&P. Note: Negative amount should be indicated with a minus sign