Grand River Corporation reported taxable income of $550,000 in 20X3 and paid federal income taxes of $187,000. Not included in the computation was a disallowed meals and entertainment expense of $2,100, tax-exempt income of $1,100, and deferred gain on a current year transaction treated as an installment sale of $25,500. The corporation's current earnings and profits for 20X3 would be: Multiple Choice $574,400 $550,000 $387,500 $364,100 Abbot Corporation reported a net operating loss of $450,000 in 20X3, which the corporation elected to carryforward to 20X4. Included in the computation of the taxable loss was regular depreciation of $150,000 (E&P depreciation is $65,000), first year expensing under $179 of $55,000, and a dividends received deduction of $10,500. The corporation's current earnings and profits for 20X3 would be: Multiple Choice ($310,500). ($354,500). $450,000). ($570,000)