Practice Problem 4 (15 minutes) Noah Inc. is a public company that was formed on January 1, 2020. Equipment was purchased (CCA rate = 20%) at a cost of $1,000,000. The equipment has a useful life of 10 years with no residual value, and is depreciated on a straight-line basis. The company expects to generate profit before taxes of $250,000 for the next three years. The tax rates are as follows: 2020 30% 2021 28% 2022 25% O The tax rates in each year were enacted during that year (for example, the 2021 tax rate was enacted during 2021 and was not known in 2020). CCA for each year is as follows: 2020 $100,000 2021 180,000 2022 144,000 Required: Calculate the deferred portion of Noah's income tax expense for the first three years of operations