The following information for $2023$ relates to Garrett Corporation, a calendar year,

accrual method taxpayer

Net income per books $($after$-$tax$)$ $$174,100$

Federal income tax per books $86,600$

Tax$-$exempt interest income $4,500$

MACRS depreciation in excess of straight$-$line

depreciation used for financial accounting

purposes $7,200$

Excess of capital loss over capital gains $9,400$

Non$-$deductible meals and entertainment $5,500$

Interest on loan to purchase tax$-$exempt bonds $1,10$