The following information is available for Sandhill Corporation for 2025. 1. 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 20262029. 2. Interest received on municipal bonds was $11,000. 3. Rent collected in advance on January 1,2025 , totaled $56,700 for a 3-year period. Of this amount, $37,800 was reported as unearned at December 31,2025 , for book purposes. 4. The tax rates are 20% for 2025 and 17% for 2026 and subsequent years. 5. Income taxes of $147,000 are due per the tax return for 2025 . 6. No deferred taxes existed at the beginning of 2025 . (a) Your answer is incorrect. Compute taxable income for 2025. Taxable income for 2025$