5 4 points 01:39:04 Company A started business on January 1, 20X1, and bought the following piece of equipment. Cost of asset Salvage $500,000 Useful life Tax rate 50,000 5 21% 10,000 20X1 estimated tax payment Depreciation for book and tax purposes is as follows: Book Tax 20X1 90,000 200,000 20X2 90,000 120,000 20X3 90,000 72,000 20X4 90,000 43.200 20X5 90,000 14,800 20X1 income statement information: Sales 905,000 Expenses (does not include depreciation expense and tax expense) 543,000 What is net income for 20X1