Fallow Corporation is subject to tax only in State X. Fallow generated the following income and deductions. State income taxes are not deductible for X income tax purposes.

Sales	$4,000,000
Cost of sales	2,800,000
State X income tax expense	200,000
Depreciation allowed for Federal tax purposes	400,000
Depreciation allowed for state tax purposes	250,000
Interest income on Federal obligations	40,000
Interest income on X obligations	30,000
Expenses related to carrying X obligations	2,000

hat is the State X income tax base? Assume that interest on X obligations is exempt from X income tax.