Fallout Corporation (a calendar year, accrual basis taxpayer) had the following transactions in 2022: Taxable Income $195,000 Federal Income Tax Liability Paid 45,000 Tax-Exempt Interest Income 5,000 Excess of Capital Loss over Capital Gains 1,000 Section 179 Expense elected in 2022 15,000 Dividends Received from Domestic Corporation (less than 20% owned) 40,000 MACRS Depreciation deduction 18,000 Straight-line depreciation using ADS class lives 10,000 Compute E & P for tax year 2022 and go to Part 2