Wise Company began operations at the beginning of 2015. The following information pertains to this company. Pretax financial income for 2015 is $103, 300. The tax rate enacted for 2015 and future years is 42%. Differences between the 2015 income statement and tax return are listed below: (a) Warranty expense accrued for financial reporting purposes amounts to $8, 700. Warranty deductions per the tax return amount to $3, 200. (b) Gross profit on construction contracts using the percentage-of-completion method per books amounts to $97, 600. Gross profit on construction contracts for tax purposes amounts to $68, 700. (c) Depreciation of property, plant, and equipment for financial reporting purposes amounts to $61, 400. Depreciation of these assets amounts to $80, 600 for the tax return. (d) A $4, 400 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) Interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $2, 700. (Assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) Taxable income is expected for the next few years. Compute taxable income for 2015. The parts of this question must be completed in order. This part will be available when you complete the part above. The parts of this question must be completed in order. This part will be available when you complete the part above. The parts of this question must be completed in order. This part will be available when you complete the part above