In 2025, Ivanhoe Company discovered an error while preparing its financial statements. A building constructed at the beginning of 2024 cositng$1239900 has not been depreciated. The estimated useful life of the building is 30 years with no salvage value. Straight line depreciation is used. Ivanhoe also used straight-line depreciation for tax purposes and property included depreciation on its tax return. Income tax payable was also reported correctly at a tax rate of 20%. Income before tax and depreciation expenses in 2025 was $340000.

What would be the 2025 net income if depreciation has been recorded properly.