Webster, Inc. has the following items of income and expense for 2016, its first year of operations. Webster began operations on April 1 and uses a calendar year end. In addition to these items, Webster purchased machinery and equipment costing $ 1, 430,000 and furniture costing $112,000 on April 9, 2016, and a warehouse costing $190,000 on May 2, 2016. Webster wants to minimize its 2016 income tax liability, which means electing Section 179 expense for the maximum the tax law allows, as well as taking the 50-percent bonus depreciation. Compute Webster 2016 taxable income and income tax liability. Webster, Inc. has the following items of income and expense for 2016, its first year of operations. Webster began operations on April 1 and uses a calendar year end. In addition to these items, Webster purchased machinery and equipment costing $ 1, 430,000 and furniture costing $112,000 on April 9, 2016, and a warehouse costing $190,000 on May 2, 2016. Webster wants to minimize its 2016 income tax liability, which means electing Section 179 expense for the maximum the tax law allows, as well as taking the 50-percent bonus depreciation. Compute Webster 2016 taxable income and income tax liability