Los Angeles Corporation (a C corporation) is a calendar year accrual-basis taxpayer and is a publicly held corporation. Los Angeles wants you to prepare their Schedule M-1 Reconciliation of Book to Taxable income for 2019. Management for Los Angeles Corporation discloses to you the following information for 2019. 1. Net Income after tax (GAAP) per corporation financials $180,000 2. Fines and penalties paid to governments $11,000 3. Tax depreciation in excess of book depreciation $27,000 4. Tax-exempt interest income earned $22,000 5. Compensation paid to the CEO $1,020,000 6. Life insurance premium expense on Key Man Insurance policy $10,000 7. Federal income tax expense per financials $40,000 What is the 2019 taxable income to be reported by Los Angeles Corporation in 2019? $212,000 $172,000 $192,000 $266,000