TGW, a calendar year corporation, reported $4,016,000 net income before tax on its financial statements prepared in accordance with GAAP. The corporation's records reveal the following information: TGW's depreciation expense per books was $457,000, and its MACRS depreciation deduction was $382,400. TGW capitalized $687,000 indirect expenses to manufactured inventory for book purposes and $820,000 indirect expenses to manufactured inventory for tax purposes. TGW's cost of manufactured goods sold was $2,566,000 for book purposes and $2,656,000 for tax purposes. Four years ago, TGW capitalized $2,304,000 goodwill when it purchased a competitor's business. This year, TGW's auditors required the corporation to write the goodwill down to $1,545,000 and record a $759,000 goodwill impairment expense. Required: Compute TGW's taxable income. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.) TGW's net book income before tax Adjustments: Depreciation Amount $ 4,016,000 4,090,600 Indirect inventory costs Cost of goods sold Book goodwill impairment expense Tax amortization of goodwill TGW's taxable income 3,957,600 3,867,600 4,626,600 4,473,000 $ 4,473,000