NBC Corporation started operations on 1/1/2018 and incurred $150,000 in organizational expenses The company has the following data for the year ending December 31, 2019: Revenue COGS Rent expense Salaries expense $100,000,000 29,000,000 17,000,000 30,000,000 1,000,000 Dividends paid to shareholders Additional information is as follow: Charitable contributions (paid/made during 2019): Cash Inventory: 600,000 FMV AB 1,200,000 800,000 Bed sheets (donated to a local hospital for use): FMV AB 500,000 70,000 Charitable contributions (carried forward from 2018): Cash 230,000 Calculate taxable income for NBC for the year ending December 31st 2019