Louisiana Land Corporation Reported the Following Results for the Current

Louisiana Land Corporation reported the following results for the current year: $\begin{array}{|l|l|}\hline\text { Taxable income before the dividends-received deduction }\\ \text { and before the charitable contributions deduction } & 320,000 \\\hline \text { Charitable contributions } & 60,000 \\\hline \text { Dividends-received deduction } & 20,000\\\hline\end{array}$ What is the amount of the taxable income for the current year?

A) $240,000
B) $268,000
C) $294,000
D) $300,000