The following information is available for Ryan Corporation: Assets at cost$-$$$260,000(8-$year life, straight$-$line depreciation, no salvage value, purchased $2$ years ago$)$; Accumulated depreciation$-$$$65,000.$ Accumulated CCA$-$$$105,300$; CCA rate$-30\%$; meals and entertainment recorded in the books$-$$$12,000$; golf dues paid and expensed on the books$-$$$5,000$; pre$-$tax accounting income$-$$$40,000.$ No CCA was taken during the current year. Based on this information and a tax rate of $45\%,$ what is taxable income?

Question $36$Select one:

a$.$

$35,000$

b$.$

$46,000$

c$.$

$51,000$

d$.$

$41,000$