1. Calendar year Corp. A purchases and places in service five-year property costing $40,000 on February 23, 2021. Corp. A estimates that the salvage value is $6,000. Assume that Corp. A opts not to take advantage of the IRC Sec. 179 deduction or bonus depreciation and that the mid quarter convention applies to all five-year property placed in service during 2021. What depreciation deduction will Corp. A claim for 2021? A. $ 5,720 B. 14,000 C. 8,750 D. 11,900 E. None of the above 2. Albert Able, age 52, pays medical expenses during 2021 (all in excess of reimbursement) as set out below. Hospital and doctor bills (for self and spouse, age 50) Prescription medicine (for self and spouse) Hospitalization insurance premiums (for self and spouse) Prescription medicine (for dependent mother, age 71) Assuming the Ables' adjusted gross income is $50,000, how much medical expense will they deduct on their joint 2021 Form 1040 return? $ 840 730 6,200 1,060 A. $4,020 B. 5,080 C. 3,830 D. 8,830 E. None of the above