Rose Corporation (A Calendar Year Taxpayer) Has Taxable Income of $300,000

Rose Corporation (a calendar year taxpayer) has taxable income of $300,000, and its financial records reflect the following for the year. $\begin{array}{lr}\text { Federal income taxes paid } & \$ 110,000 \\\text { Net operating loss carry forward deducted currently } & 70,000 \\\text { Gain recognized this year on an installment sale from a prior year } & 44,000 \\\text { Depreciation deducted on tax return (ADS depreciation would have been } \$ 10,000) & 40,000 \\\text { Interest income on Iowa state bonds } & 8,000\end{array}$ Rose Corporation's current E & P is:

A) $254,000.
B) $214,000.
C) $194,000.
D) $104,000.
E) None of these.