Exam Corporation reports taxable income of $800,000 on its federal income tax return. Given the following information from the corporation's records, determine its M-1 book income:

Deduction for federal income taxes per

financial accounting records $272,000

Depreciation claimed on the tax return 140,000

Depreciation recorded on the financial accounting records 80,000

Dividends-received deduction 48,000

Life insurance proceeds on death of corporate officer 90,000