Sunland Enterprises purchased a delivery truck on January 1,2025, at a cost of $34,500. The truck has a useful life of 7 years with an estimated salvage value of $5,800. 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 $240,000 and operating expenses (excluding depreciation) of $156,000. (a) 2. Your answer is partially correct. Prepare income statements for 2025 and 2026. (The final amount reported on the income statement should be income before income taxes.) F Your answer is incorrect. Compute taxable income for 2025 and 2026. Taxable income for 2025 Taxable income for 2026 eTextbook and Media Attempts: unlimited 6. Your answer is incorrect: Determine the total depreciation to be taken over the useful life of the delivery truck for both book and tax purposes. Book purposes Taxpurposes