Question Content AreaTern Corporation, a cash basis taxpayer, has taxable income of $$500,000$ for the current year. Tern elected $$25,000$ of $179$ expense. It also had a related$-$party loss of $$20,000$ and a realized $($not recognized$)$ gain from an involuntary conversion of $$75,000.$ It paid Federal income tax of $$150,000$ and paid a nondeductible fine of $$10,000.$ Tern's current E & P is:

a$.$ $$340,000.$

b$.$ $$415,000.$

c$.$ $$350,000.$

d$.$ $$320,000.$