Mitchell Corporation reports $550,000 of taxable income for the current year. The following additional information is available:
-Mitchell reported a long-term capital loss of $90,000 for the current year. No capital gains were reported this year.
-$75,000 of dividends received from a 80% owned domestic corporation are included in taxable income.
-Mitchell contributed $70,000 to various charities during the year; however, due to limitations, $4,000 must be carried over to next year.
-Mitchell paid fines and penalties of $6,000 that were not deducted in computing taxable income.
-Mitchell paid estimated federal income tax payments of $150,000 during the year.
-Income from the following sources was not included in taxable income:
1. $12,000 of interested from Municipal bonds
2. $100,000 proceeds from a life insurance policy
What is the amount of Mitchell corporation’s current Earnings and Profits?