This year, Parker Corp., an accrual-method calendar-year C corporation, reported GAAP Net Income of $380,000. Included in that amount was $50,000 municipal bond interest income, $170,000 for federal income tax expense, and $2,000 interest expense on the debt incurred to purchase the municipal bonds. What amount should Parker's taxable income be? $330,000 $500,000 $502,000 O $550,000