Homework: HW12 - Depreciation and Income Taxes Question 6, Problem 7-1... Part 1 of 2 HW Score: 50%, 16 of 32 points Points: 0 of 8 Save A corporation in 2018 expects a gross income of $600,000, total operating expenses of $470,000, and capital investments of $14,000. In addition the corporation is able to declare $69,000 of depreciation charges for the year. The federal income tax rate is 21%. What is the expected taxable income and total federal income taxes owed for the year 2018