Concord Inc. has book income after federal income tax expenses of $514,000. Concord is an accrual-basis taxpayer for both book reporting and tax reporting. Compute Concord's taxable income given the information below: Federal income tax Book depreciation Tax depreciation Charitable contribution carryforward Net capital I Municipal interest income Entertainment expenses $105,000 $69,000 $79,000 $10,000 $3,300 $1,000 $4,700