Packer Co.s 2018 income statement reported $130,000 in income before provisions for income taxes. To compute the provision for federal income taxes, the following 2018 data are provided:

Rent received in advance	$	22,000
Income from exempt municipal bonds	$	17,000
Depreciation deducted for income tax purposes	$	18,000
Depreciation deducted for financial reporting	$	10,000

If the alternative minimum tax provisions are ignored, what amount should Packer report as taxable income?

Multiple Choice

130,000

117,000

125,000

127,000