You own a construction company with a revenue of $365,000. The direct costs of producing goods is $280,000. Your annual general overhead is $42,000 that includes $3000 in meals and entertainment; $400 in office utilities; $2500 for office laptop; $800 for office desks and chairs; $100 for professional dues and memberships. The allowed depreciation for office utilities is $50; for office laptop is $200; and for office desks and chairs is $75; and for professional dues and memberships is $15. Determine your net taxable income. $47,525 $47,875 $47,605 $49,625