Question 2 20 pts 2. The XYZ Company builds finished plastic products and has decided purchase manufacturing equipment (special tools) at a cost of $900,000. This equipment qualifies for 60% bonus depreciation, the balance will be depreciated using the MACRS deprecation method. The gross income for the calendar year was $1,400,000. Supplies and operating expenses were $430,000 a. What is firms taxable income for the first year? b. How much in taxes will the firm pay in the first year