Wildhorse Enterprises purchased a delivery truck on January 1,2017, at a cost of $28,350. The truck has a useful life of 7 years with an estimated salvage value of $6,300. 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 2017 and 2018 the company has revenues of $210,000 and operating expenses (excluding depreciation) of $136,500 MACRS Depreciation Rates by Class of Property 7-year (200% DB) 10-year (20096 DB) 15-year (15096 DB) Recovery 3-year (200% DB) 5-year (20096 DB) 20-year (150% DB) Year 1 2 33.33 44.45 14.81* 7.41 20.00 14.29 24.29 17.49 12.49 8.93* 8.92 8.93 4.46 10.00 18.00 14.40 5.00 9.50 8.55 3.750 32.00 19.20 11.52 11.52 5.76 7.219 3 6.677 4 11.52 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.713 5.285 4.888 4.522 4.462* 4.461 4.462 4.461 4462 9.22 7 8 9 10 7.37 6.55* 6.55 6.56 6.55 3.28 12 5.90 13 5.91 5.91 5.90 5.91 2.95 4.462 4.461 4.462 4.461 4.462 4.461 13 14 15 16 17 18 19 20 21 4.462 4.461 2.231 Switchover to straight-line depreciation. Compute income before income taxes for 2017 and 2018. 2017 2018 Income before income taxes Compute taxable income for 2017 and 2018. (Round answers to O decimal places, e.g. 45,892.) Taxable income for 2017 $ Taxable income for 2018$ Determine the total depreciation to be taken over the useful life of the delivery truck for both book and tax purposes. Book purposes $ Tax purposes $