Abbot Corporation Reported a Net Operating Loss of $450,000 in 20X3

Multiple Choice

Abbot Corporation reported a net operating loss of $450,000 in 20X3, which the corporation elected to carry forward to 20X4. Included in the computation of the taxable loss was regular depreciation of $150,000 (E&P depreciation is $65,000) , first-year expensing under §179 of $55,000, and a dividends received deduction of $10,500. The corporation's current E&P for 20X3 would be:

A) ($354,500) .
B) ($310,500) .
C) ($450,000) .
D) ($570,000) .