[Solved] Tern Corporation, a cash basis taxpayer, has taxable income of $500,000 for the current year. Tern elected $25,000 of § 179 expense. It also had a related party loss of $20,000 and a realized (not recognized) gain from an involuntary conversion of $75,000. It paid Federal income tax of $150,000 and paid a nondeductible fine of $10,000. Tern's current E & P is: A) $415,000. B) $350,000. C) $340,000. D) $320,000. E) None of the above. Freudian Concept: Ideas or theories developed by Sigmund Freud that focus on unconscious desires, motivations, and the influence of childhood experiences. Violent Pornography: Media content that combines sexually explicit material with acts of violence, potentially influencing attitudes and behaviors towards aggression and sexual consent. Tolerant Light: A concept likely pertaining to the ability of certain organisms or materials to withstand exposure to light without adverse effects; though it is not a widely recognized term in scientific literature. Long Period: An extended length of time, often involving sustained activity, development, or condition.