Waterway Enterprises purchased a delivery truck on January 1, 2017, at a cost of $28,3S0. The truck has a useful life of 7 years with an estimated salvace value of $6,300. The straight-ine method is used for book purposes. For tax purposes, the truck, having an MACRS class life of 7 years, sassified as S-year property; the optional MACRS tax rate tables are used to compute depreciation. In addition, assume that for 2017 and 2018 the company has revenues of $210,000 and operating expenses (excluding depreciation) of $136,500 Compute taxable income for 2017 and 2018. (Round answers to 0 decimal places, e.g 45,892.) Taxable Income for 2017 MACRS Depreciation Rates by Class of Property Taxable Income for 2018 3-year (200% DB) S-year (200% DB) 7-year (200%e DB) 1S-year (200% DB) (150% DB) 33.33 44.45 14.31* 7.41 20.00 32.00 19.20 11.52 11.52 5.76 14.29 24.29 17.49 12.49 10.00 18.00 14.40 11.52 9.22 7.37 6.55* 6.55 6.56 6.55 3.28 5.00 9.50 3.55 7.70 6.93 6.23 5.90* 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 Dotormine the total depreciation to be taken over the useful lifo of the delivery truck for both book and tax purposes. 8.93* 8.92 8.93 Book purposes Tax purposes 10 12 13 14 15 16 18 19 20 21 Compute income before income taxes for 2017 and 2018 2017 2018 Income before income taxes