Shannon polymers uses straight-line depreciation for financial reporting purposes for equipment costing $840,000 and with an expected useful life of 4 years and no residual value. for tax purposes, the deduction is 40%, 30%, 20%, and 10% in those years. pretax accounting income the first year the equipment was used was $960,000, which includes interest revenue of $28,000 from municipal bonds. other than the two described, there are no differences between accounting income and taxable income. the enacted tax rate is 35%. prepare the journal entry to record income taxes. (if no entry is required for a particular event, select "no journal entry required" in the first account field.)