Effective January 2, 2018, Cannon made a 40% investment in the Fuse Technologies Company. Fuse’s net income for calendar-year 2018 was $90,000,000. • Cannon earned interest of $7,600,000 on tax-exempt bond investments. • On May 1, 2018, Cannon sold a building in which It had a carrying value of $66,000,000 for $52,000,000 in cash. • On June 30, 2018, Cannon purchased 100% of the capital stock of Shell Electronics Co. for $150,000,000, at a time when the fair value of the stock was $120,000,000. The tax authorities permit a level annual cost recovery of goodwill over 15 years. The management of Cannon found no impairment of value in its investment in Shell Electronics in 2018. • In August 2018, Cannon had to pay $12,000,000 to the tax authorities, based on a miscalculation of prior years’ taxes. This payment included interest of $1,000,000. • Cannon’s expense for import duties in 2019 was $15,200,000. The company will be permitted one-half of that amount as a deduction in 2018, with no carry-over to future years. In September 2019, Cannon was notified that the courts had determined that a $20,000,000 'marketing" payment made during 2019 to a company in the country of Concretia was illegal under the requirements of the U. S. Foreign Corrupt Practices Act. Later that month, Cannon was notified of a court decision that a similar payment made in 2018 to a company in Grand Wachovia, for $18,000,000, was also illegal. For 2019, accelerated cost recovery of $36,600,000 was allowed for tax purposes on Cannon's property, plant, and equipment. Depreciation determined using generally accepted accounting principles was $49,200,000. • Two-thirds of the carry-over of the 2018 charitable contribution was available as a deduction in 2019. On December 31, 2019, Cannon's management made a calculation of earnings before taxes of $200,000,000. However, an accounting error was subsequently discovered (an expense of $16,000,000 had been improperly capitalized as an asset) and was corrected. Prepare a schedule for the computation of taxable income for Cannon Corporation for 2019.