Can someone help me in this discussion? Please don't post a short answer. A paragraph or two would be perfect. Thank you!

In this module, the readings discussed depreciation and income taxes. It is essential to understand these topics so that correct after- tax engineering economy evaluations of proposed projects may be conducted. Discuss and explain how/why these concepts regarding current federal income tax laws are in place: (choose one of the following) taxable income, effective income tax rates, taxation of ordinary income, and gains and losses on disposal of assets