Madison Corporation reported taxable income of $400,000 in 20X3 and accrued federal income taxes of $136,000. Included in the computation was regular depreciation of $200,000 , first year expensing under §179 of $100,000, and a net capital loss carryover of $20,000 from 20X2. The corporation's current earnings and profits for 20X3 would be: $504,000 $484,000 $460,000 $424,000.