Warbler Corporation, a calendar year taxpayer, has taxable income of $145,000 for the current year. Among its transactions for the year are the following

Federal income tax refund $20,000

Section 179 expense deducted 19,000

Related party loss 11,000

Realized gain from qualified like-kind exchange but gain not recognized 7,000

Warbler Corporations current E&P is

a. $161,000

b. $176,200

c. $154,000

d. $169,200

e. None of the above