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FG5.12 David owns a concrete mixing business (sole proprietorship), which nets $200,000 in Year 1 and is expected to grow by $10000/year in each of the next 5 years. Assume his exemptions and deductions are $10,000/year for all 6 years. Also, assume that David has just purchased a 5-year class concrete mixer for $100,000. The tax and MACRS depreciation tables attached. David Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Income $200,000 $210,000 $220,000 $230,000 $240,000 $250,000 Deductions Depreciation Taxable Income Tax Paid Calculate the Taxable Income in Year 1 through 6, assuming the MACRS depreciation on the attached, and calculate his yearly taxes, assuming he is single Taxpayer