At the beginning of 2021, Blossom Co. purchased an asset for $1150000 with an estimated useful life of 5 years and an estimated salvage value of $85000. For financial reporting purposes the asset is being depreciated using the straight-line method; for tax purposes the double-declining-balance method is being used. Blossom Cols tax rate is 20% for 2021 and all future years. At the end of 2021, what are the book basis and the tax basis of the asset? Book basis Tax basis $852000 $605000 $852000 $690000 $937000 $690000 $937000 $605000