Stott Corp. depreciates all assets straight-line over their useful lives, with no salvage value, and taking a full year of depreciation in the year of purchase and none in the year of sale. Stott uses the accrual-basis for computing book income and taxable income. 1.Stott purchased a machine last year for \\( \\$ 100,000 \\). Book depreciation is straight-line over 8 years. Tax depreciation equals \\( \\$ 14,286 \\). 2. This year Stott purchased five notebook computers for \\( \\$ 15,000 \\). Using Bonus Depreciation, Stott will immediately expense these computers rather than depreciate them. Book deprecation is straight-line over 3 years. 3. Stott's federal income tax expense is \\( \\$ 50,000 \\). 4. Stott paid \\( \\$ 5,000 \\) for business meals during the course of the year and had a country club membership for entertaining clients of \\( \\$ 3,500 \\) 5. Stott expects to lose a lawsuit early next year. Legal counsel estimates the total award to be \\( \\$ 30,000 \\), payable next year. Stott set up a reserve for this expect