For the year ended 31 December 20X1, Bounce Ltd has an accounting profit of $155,000. Bounce operates in a country with the following tax rules: A specified method for tax depreciation is required; therefore, a difference exists between depreciation allowable for book purposes and depreciation allowable for tax purposes. Entertaining costs are disallowed expenses. Tax is charged at a rate of 20% on profits. The following items are included in the financial statements: Entertaining costs of $2,500 Accounting deprecation during the year of $3,500 Other information available: Tax depreciation based on the rules of the tax authority is $3,750 during the year. Calculate the taxable profit for Bounce Ltd for the year ended 31 December 20X1. Do not include symbols, commas or letters in your response