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At the beginning of 2025 , Sheridan Co. purchased an asset for $2050000 with an estimated useful life of 5 years and an estimated salvage

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At the beginning of 2025 , Sheridan Co. purchased an asset for $2050000 with an estimated useful life of 5 years and an estimated salvage value of $175000. 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. Sheridan's tax rate is 20% for 2025 and all future years. At the end of 2025 , what are the book basis and the tax basis of the asset

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