1- Associated Constructors is a sole proprietorship owned by Mary Cortes. Its expected income for the next 6 years (Year 1 to Year 6 ) is shown below, if Mary purchases today (Year 0 ) a 5-Year class piece of equipment for $150,000. Mary files her taxes as "Head of Household". a) Calculate the depreciation expense, taxable income, tax liability and income after tax assuming the Straight-Line form of depreciation. \begin{tabular}{cccccc} Year 1 & Year 2 & Year 3 & Year 4 & Year 5 & Year 6 \\ \hline 200000 & 300000 & 400000 & 500000 & 600000 & 700000 \end{tabular} b) Calculate the depreciation expense, taxable income, tax liability and income after tax assuming the MACRS form of depreciation. c) Assume that Associated Constructors is now a corporation. Mary gives herself a salary of 135,000140,000145,000150,000155,000160,000 from Year 1 to Year 6. Calculate her personal taxes (assume no personal deductions) from Year 1 to Year 6