Problem $7-42($LO $7-2)($Algo$)$

Boilermaker Incorporated reported taxable income of $$735,000$ this year and paid federal income taxes of $$154,350.$ Not included in the company's computation of taxable income is tax$-$exempt income of $$34,500,$ disallowed meals and entertainment expenses of $$53,500,$ and disallowed expenses related to the tax$-$exempt income of $$3,400.$ Boilermaker deducted depreciation of $$110,000$ on its tax return. Under the alternative $($E&P$)$ depreciation method, the deduction would have been $$76,750.$ Compute the company's current E&P$.$

Note: Negative amount should be indicated with a minus sign.