In 2020, Claudine Corporation (a calendar year taxpayer) had the following transactions: Taxable income - $108,000; Tax-Exempt Interest income (City of Houston Bonds) $12,000: Life Insurance Proceeds (Policy On Corporate President) - $8,000. Disregarding any Federal Income Taxes, Claudine Corporation's Current Earnings And Profits (ESP) for the year of 2020 is: $120,000 $ 88,000. $112.000, $120.000