the current income tax rate is 30 and no change in the tax rate has been enacted for 571600

At the beginning of 2007, Conley Company purchased an asset at a cost of $10,000. For financial reporting purposes, the asset has a four year life with no residual value, and is depreciated by the straight line method beginning in 2007. For tax purposes, the asset is depreciated under MACRS using a five year recovery period. Prior to 2007, the company had no deferred tax liability or asset. The difference between depreciation for financial reporting purposes and income tax purposes is the only temporary difference between pretax financial income and taxable income. The current income tax rate is 30% and no change in the tax rate has been enacted for future years. In 2007 and 2008, taxable income will be higher or lower than financial income by what amount?