Pr'oblem 17-47 (Lo. 5) The following information for 2018 relates to Sparrow Corporation, a calendar year, accrual method taxpayer. Net income per books (after-tax) $205,050 Federal income tax expense per 55 550 books Tax-exempt interest income 4,500 MACRS depreciation in excess of straight-line depreciation used for nancial 7,200 statement purposes Excess of capital losses over capital gains 9:400 Nondeductible meals and entertainment 5500 Interest on loan to purchase tax- 1,100 exempt bonds 3. Regarding items that would be added back on the M1 schedule, label either \"Yes" (it would be added back to net income per books) or "No" (it would not be). - Federal income tax per books Yes - Excess of capital loss over capital gains Yes - Tax-exempt interest income No - Excess of MACRS over book depreciation No - Interest on loan to purchase tax-exempt bonds Yes - Nondeductible meals and entertainment Yes b. Sparrow's taxable income for 2018 is $