Q.4 A concern has a total income of $950,000 /year, and all expenses except depreciation amount to $550,000/year. At the start of the first year of the concern's operation, a composite account of all depreciable items shows a value of $810,000, and the overall service life is estimated to be 18 years. The total salvage value at the end of the service life is estimated to be $56,000. 27% of all profits before taxes must be paid out as income taxes. What would be the reduction in income-tax charges for the first year of operation if the sum-of-the-years-digits method were used for depreciation accounting instead of the straight-line method