Drip-Along Daffy, Inc. reports net income per the books amounting to $46,054,439. The corporation reports the following activity: Federal Income Tax Expense: $13,055,826 Depreciation deducted on the tax return: $8,007,571 Depreciation recorded on the books: $6,257,267 Unearned Revenue: $160,826 Excess Capital Losses: $42,617 Tax Exempt Interest: $365,220 Charitable Contributions recorded on the books: $267,240 Charitable Contributions deducted on the tax return: $486,243 Bad Debts Expense recorded on the books: $207,191 Bad Debts Expense deducted on the tax return: $161,770 Life Insurance Proceeds $17,340,982 Required: Prepare the corporation's Schedule M-1 reconciliation from book income to taxable income