The following information is available for Crane Corporation for 2025, 1 Depreciation reported on the tax...

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The following information is available for Crane Corporation for 2025, 1 Depreciation reported on the tax return exceeded depreciation reported on the income statement by $110,000. This difference will reverse in equal amounts of $27,500 over the years 2026-2029. 2. Interest received on municipal bonds was $10,400. 3. Rent collected in advance on January 1, 2025, totaled $65,100 for a 3-year period. Of this amount. $43,400 was reported as unearned at December 31, 2025, for book purposes. 4. The tax rates are 20% for 2025 and 17% for 2026 and subsequent years. 5. Income taxes of $172,000 are due per the tax return for 2025. 6. No deferred taxes existed at the beginning of 2025. (a) Compute taxable income for 2025. Taxable income for 2025 $ The following information is available for Crane Corporation for 2025, 1 Depreciation reported on the tax return exceeded depreciation reported on the income statement by $110,000. This difference will reverse in equal amounts of $27,500 over the years 2026-2029. 2. Interest received on municipal bonds was $10,400. 3. Rent collected in advance on January 1, 2025, totaled $65,100 for a 3-year period. Of this amount. $43,400 was reported as unearned at December 31, 2025, for book purposes. 4. The tax rates are 20% for 2025 and 17% for 2026 and subsequent years. 5. Income taxes of $172,000 are due per the tax return for 2025. 6. No deferred taxes existed at the beginning of 2025. (a) Compute taxable income for 2025. Taxable income for 2025 $