The following information is available for Cullumber Corporation for $2025.$

Depreciation reported on the tax return exceeded depreciation reported on the income statement by $$122,000.$ This difference will reverse in equal amounts of $$30,500$ over the years $2026-2029.$

Interest received on municipal bonds was $$9,300.$

Rent collected in advance on January $1,2025,$ totaled $$57,600$ for a $3-$year period. Of this amount, $$38,400$ was reported as unearned at December $31,2025,$ for book purposes.

The tax rates are $20\%$ for $2025$ and $17\%$ for $2026$ and subsequent years.

Income taxes of $$155,000$ are due per the tax return for $2025.$

No deferred taxes existed at the beginning of $2025.$

$($a$)$

Your answer is incorrect.

Compute taxable income for $2025.$

Taxable income for $2025$

$

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$($b$)$

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$($c$)$

The parts of this question must be completed in order. This part will be available when you complete the part above.

$($d$)$

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