Equipment is purchased for $ 250,000 in year 0 and is expected to sell for $ 25,000 after 5-year use. Suppose the company estimates equipment income and expenses for the following first year of operation: Income $ 600,000, Expenses $ 260,000, Depreciation $ 45,000. If the company pays taxes at a rate of 35%, what is the amount of taxes to pay during the first year?