Middle Inc. reports the following results for the current fiscal year ended in 2021. Net income per books (before federal income taxes) $775,000 12,000 Dividend income from 25% owned corporation Tax-exempt interest income 9,000 MACRS depreciation exceeding book depreciation 38,000 Adjusted basis of equipment sold - MACRS 32,000 Adjusted basis of equipment sold - Books 46,000 Entertainment Expense 3,000 Net Capital Loss per books 14,000 What is Middle Inc.'s Regular Taxable Income