Example

During the current year, Bratton Corporation $($a calendar year C corporation$)$ has the following transactions:

Income from operations is $$576,000$

Expenses from Operations is $$186,000$

Dividends received from Palmer Corp is $$26,000$

Bratton owns $25\%$ of Palmer Corporation's stock. On October $1$st$,$ Bratton makes a contribution to a qualified charitable organization of $$46,000$ in cash $($not included in any of the transactions above$).$ How much is Bratton Corporation's taxable income $($loss$)$ for the year?