This year Coast Corp. reported taxable income of $$160,000$ and recelved $$30,000$ of municipal interest. Coast paid $$55,000$ in entertainment expenses and $$16,000$ in fines and penalties. Coast had $$50,000$ of accumulated E&P at the beginning of the year. What is Coast's current E& P$?($Hint: Don't forget the impact of federal income taxes.$)$

Multiple Choice

$$76,400$

$$142,200$

$$85,400$

$$110,000$