As of December 31, 2016, Caledonia Corp. has taxable income of $150,000, which includes a $20,000 accelerated depreciation deduction; had straight-line depreciation been used, the deduction would have been $6,000. Also included in taxable income is an operating loss carryforward from a prior year of $3,000. Additionally, Caledonia earned $4,000 in municipal bond interest during the year. What is Caledonia Corp.’s current earnings and profits (E & P) for 2016?

a. $164,000
b. $171,000
c. $157,000
d. $168,000