Vitality Corporation reports $650,000 of taxable income for the current year. The following additional information is available: (Click the icon to view the additional information.) Assume a 21% corporate tax rate Requirement What is Vitality's current E&P for this year? (If an input field is not used, leave the input field empty. Do not select a label or enter a zero.) Taxable income More info Plus: . For the current year, Vitality reports a $90,000 long-term capital loss and no capital gains. Taxable income includes $40,000 of dividends from a 15%-owned domestic corporation. Vitality paid fines and penalties of $5,500 that were not deducted in computing taxable income. In computing this year's taxable income, Vitality deducted a $55,000 NOL carryover from a loss incurred last year. Taxable income includes a deduction for $10,000 of depreciation that exceeds the depreciation allowed for E&P purposes Minus: Current earnings and profits Print Done