Pharoah Enterprises purchased a delivery truck on January $1,2025,$ at a cost of $$26,000.$ The truck has a useful life of $7$ years with an estimated salvage value of $$5,910.$ The straight$-$line method is used for book purposes. For tax purposes, the truck, having an MACRS class life of $7$ years, is classified as $5-$year property; the optional MACRS tax rate tables are used to compute depreciation. In addition, assume that for $2025$ and $2026$ the company has revenues of $$212,000$ and operating expenses $($excluding depreciation$)$ of $$137,800.$

Compute taxable income for $2025$ and $2026.$

Taxable income for $2025$

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Taxable income for $2026$

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