SEP, a calendar year corporation, reported $$918,000$ net income before tax on its current year financial statements prepared in accordance with GAAP. The corporation$$s records reveal the following information:

SEP incurred $$75,000$ of domestic research costs that resulted in a new $17-$year patent for the corporation. SEP expensed these costs for book purposes.

SEP$$s depreciation expense per books was $$98,222,$ and its MACRS depreciation deduction was $$120,000.$

SEP was organized two years ago. For its first taxable year, it capitalized $$27,480$ start$-$up costs and elected to amortize them over $180$ months. For book purposes, it expensed the costs in the year incurred.

Required:

Compute SEP$$s taxable income.

Note: Amounts to be deducted should be indicated with a minus sign. Do not round intermediate computations. Round final answers to the nearest whole dollar.