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The following information is available for Marigold Corporation for 2024(its first year of operations). ...

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Accounting

The following information is available for Marigold Corporation for 2024(its first year of operations).
Excess of tax depreciation over book depreciation, $40,600. This $40,600 difference will reverse equally over the years 2025-2028.
Deferral, for book purposes, of $21,200 of rent received in advance. The rent will be recognized in 2025.
Pretax financial income, $322,000.
Tax rate for all years, 30%.
(a)
Compute taxable income for 2024.
Taxable income
$
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