e IH) new doc 201901-2218 It 0 A 10 file:///C:/UserstaalDownloadsew%20doc%202019-01-22%2018.5749%20(1).pdf Alexa Inc. purchased equipment in 2018 for $50,000 with no residual value. On December 31, 2020, accumu- lated depreciation using the straight-line method for financial reporting was $15,000. For tax purposes, Alexa uses MACRS depreciation resulting in $35,600 in accumulated depreciation for tax purposes on December 31, 2020. Taxable income was $100,000 for 2020 and the company's tax rate is 25%. a. Determine the GAAP basis of equipment (net) on December 30, 2020. b. Determine the tax basis of equipment on December 30, 2020. c. Assuming a defered tax liability balance of $4,900 on December 3 1, 2019, record ncome tax expense for 2020. ^ Qs ENG 7:05 PM