06 Company B started business on January 1, 20X1, and bought the following piece of equipment. Cost of asset Salvage $200,000 Useful life Tax rate 20,000 5 21% 4,000 20X1 estimated tax payment Depreciation for book and tax purposes is as follows: 20X1 20X2 20X3 20X4 20X5 Book Tax 36,000 80,000 36,000 48,000 36,000 28,800 36,000 17,280 D 36,000 5,920 20X1 income statement information: Sales Expenses (does not include depreciation expense and tax expense) What is the ending balance of taxes payable on the December 31, 20X1 balance sheet? 362,000 217,000