Deferred Tax Calculations (Appendix) Wyhowski Inc. reportedincome from operations, before taxes, for 2015-2017 as follows:2015 $402,000 2016 460,000 2017 539,000 When calculating income,Wyhowski deducted depreciation on plant equipment. The equipmentwas purchased January 1, 2015, at a cost of $167,000. The equipmentis expected to last three years and have a(n) $14,000 salvagevalue. Wyhowski uses straight-line depreciation for book purposes.For tax purposes, depreciation on the equipment is $96,000 in 2015,$38,000 in 2016, and $19,000 in 2017. Wyhowski's tax rate is 35%.Required: Enter all amounts as positive numbers. 1. How much didWyhowski pay in income tax each year? If required, round allcalculations to the nearest dollar. Year Taxes Paid 2015 $ 15,7502016 $ 2017 $ 2. How much income tax expense did Wyhowski recordeach year? Year Income Tax Expense 2015 $ 2016 $ 2017 $
