Rose Corporation (a calendar year taxpayer) has taxable income of $300,000, and its financial records reflect the following for the year.

Federal income taxes paid	$63,000
Deductible net operating loss (NOL) carryforward from prior year (loss recognized previously for E&P)	70,000
Tax gain recognized this year on an installment sale from a prior year (recognized previously for E&P)	44,000
Depreciation deducted on tax return (E&P depreciation would have been $10,000)	40,000
Interest income on Iowa state bonds	8,000

Rose Corporation's current E & P is:

Question options:

	$223,000.
	$293,000.
	$301,000.