Income
Sales			$4,440,000
Cost of goods sold			(1,840,000)
Gross Profit Dividends received from stock investments in			2,600,000
Less than 20% owned U.S. corporations Interest income			35,000
State bonds		$12,000
Corporate bonds		16,000	28,000
Total Income Expenses			$2,663,000
Salaries		1,000,000
Taxes (state, local, and payroll)		190,000
Repairs and maintenance		112,000
Net Capital Loss Interest expense:		25,000
Loan to purchase state bonds		7,000
Other business loans		174,000 181,000
Advertising		132,000
Depreciation for book purpose*		80,000
Charitable contributions		100,000
Employee benefit programs (a regular corporate expense) Premiums on term life insurance policies on lives	48,000
of Janet and Kim	32,000
Total expenses		(1,900,000)
Net income before taxes		763,000
Federal Income tax		(282,370)
Net income per books		480,630

*Depreciation for tax purposes is $110,000.

1. What is Brown's taxable income this year?