southern atlantic distributors began operations in january 2021 and purchased a delivery truck for $40,000. southern atlantic plans to use straight-line depreciation over a four-year expected useful life for financial reporting purposes. for tax purposes, the deduction is 50% of cost in 2021, 30% in 2022, and 20% in 2023. pretax accounting income for 2021 was $300,000, which includes interest revenue of $40,000 from municipal governmental bonds. the enacted tax rate is 25%.