USE THE FOLLOWING INFORMATION FOR #3 THROUGH #6: $100,000 Book Life / Method Tax Life / Method Cost of Equipment Date equipment purchased Tax rate = 16% 1/1/X2 5 Years / Straight Line 3 Years/ MACRS YEAR 12/31/X3 12/31/X4 12/31/X2 $88,000 12/31/15 $90,500 12/31/X6 $111,000 Book Income $132,000 $140,000 $20,000 $20,000 $20,000 $20,000 $20,000 Book Depreciation | Depreciation $33,333 $44,450 $14,808 $7,408 Q#3: Compute taxable income for the year ending 12/31/X6. Q#4: Compute taxes payable for the year ending 12/31/X3