Grand River Corporation reported taxable income of $500,000 in 20X3 and paid federal income taxes of $175,000. Not included in the computation was a disallowed meals and entertainment expense of $2,900, tax-exempt income of $1,900, and deferred gain on a current year transaction treated as an installment sale of $29,500 The corporation's current earnings and profits for 20X3 would be Multiple Choice $326,900 $500.000. $527,600 $353,500 Prex8 f 50 Next >