Redwood Corporation has net income reported on its books of $115,600. For the current year, the corporation had federal income tax expense of $29,400, a net capital los of $9,100, and tax-exempt interest income of $4,700. The company deducted depreciation of $17,000 on its tax return and $13,000 on its books. Using Schedule M-1 below, calculate Redwood Corporation's taxable'income, before any net operating loss or special deductions, for the current year: If an input box does not require an entry, enter " 0 ". Enter all amounts as positive numbers. Schedule M-1 Reconciliation of Income (Loss) per Books With Income per Return