Check my On April 23, Mrs. Y purchased a taxi business from Mr. M for a $55,000 lump-sum price. The business consisted of a two-year-old taxicab worth $17,600, Mt. M's license to operate a taxi business in Baltimore, his list of regular customers, and his registered business name "On Time Any Time Taxi." Mes. Y operated the business from April 24 through the end of the year. Use Table 7.2. Required: a. Compute Mrs. Y's taxable income from the taxi business if her taxable income before any cost recovery deductions was $37040. Assume Mrs. Y wants to minimize taxable income. b. Compute Mrs. Y's taxable income from the taxi business If her taxable income before any cost recovery deductions was $18,400. Assume Mrs. Y wants to minimize taxable income without bonus depreciation 31 Complete this question by entering your answers in the tabs below. es Required A Required B Compute Mr. Y's taxable income from the taxi business if her taxable income before any cost recovery deductions was $37,040. Assume Mrs. Y wants to minimize taxable income. (Do not round intermediate calculations.) Table Income Required B >