FruAgro Company grows a variety of fruits and nuts for sale to grocery wholesalers. FruAgro owns and operates orchards in California, Florida, Mexico, and Costa Rica. This year, sales of produce from the California and Florida orchards generated $23.4 million net income, while sales of produce from the Mexican and Costa Rican orchards generated $15.5 million net income. Compute FruAgro's taxable income for the year.