1. At the beginning of 2017, Brignt Co. purchased a truck for $84,000 with an estimated useful life of 7 years and an estimated salvage value of $7,000. For financial reporting purposes, the truck is being depreciated using the straight-line method; for tax purposes, the double-declining-balance method is being used. Bright Co.'s tax rate is 34% for 2017 and all future years.

a) At the end of 2017, what are the book bases and the tax basis of the truck?

Truck's Book Basis is: __________

Truck's Tax Basis is: ____________