The Summit Petroleum Corporatio will purchase an asset that qualifies for three-year MACRS depreciation. The cost is $200,000 and the asset will provide the following stream of earnings before depreciation and taxes for the next four years: Use Table 12-12. Year 1 $ 98,000 Year 2 119,00 Year 3 50,000 Year 4 48,000 The firm is in a 35 percent tax bracket and has a cost