Clement Co. is a privately owned company that reports under ASPE. For the year ending December 31, the company reported accounting earnings before tax of $100,000. The following additional information is available: Depreciation $30,000 Meals and entertainment $2,000 Maximum possible capital cost allowance (CCA) claim $25,000 Warranty Expense $10,000 Actual warranty claims paid $5,000 Golf dues $2,000 Applicable tax rate 20% .

What is the taxable income for the year ended December 31?