Lantz Ltd$.$ reported earnings before income taxes of $$550,000$ in $20$X$5.$ The company had expensed $$26,000$ of golf club dues that were not tax$-$deductible. There was tax$-$free dividend revenue of $$10,500.$ Warranty expense was $$41,000.$ Depreciation was $$121,000,$ while CCA was $$192,000.$ Warranty claims paid were $$35,500.$ The tax rate for this year is $20\%.$

Required:

Calculate taxable income and income tax payable.