Quince Company has book income of $120,000 properly determined in accordance with financial accounting principles. The following information is also available: The company received a $10,000 dividend from a large publicly-traded domestic corporation of which it owns less than 20%. Income tax expense on the financial statements was $30,000. Depreciation expense on the financial statements is $25,000 less than depreciation expense determined using tax laws. The company received life insurance proceeds of $15,000. Charitable contributions of $20,000 were made. Determine the taxable income of Quince Company