10 5 points Michael is the sole proprietor of a small business. In June 2021, his business income is $8,900 before consideration of any 179 deduction. He spends $236,500 on furniture and equipment in 2021. If Michael elects to take the $179 deduction and no bonus on a conference table that cost $22,900 (included in the $236,500 total). (Use Table 6A-1 and Table 6A-2) Required: Determine the maximum cost recovery for 2021 with respect to the conference table. Note: Round your intermediate calculations to the nearest whole dollar amount. eBook Maximum cost recovery References TABLE 6A-1 General Depreciation System: 200% or 150% Declining Balance Switching to Straight-Line* Half-Year Convention Recovery Year 1 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 33.33 20.00 14.29 10.00 5.00 3.750 2 44.45 32.00 24.49 18.00 9.50 7.219 3 14.81 19.20 17.49 14.40 8.55 6.677 4 7.41 11.52 12.49 11.52 7.70 6.177 5 11.52 8.93 9.22 6.93 5.713 6 5.76 8.92 7.37 6.23 5.285 7 8.93 6.55 5.90 4.888 8 4.46 6.55 5.90 4.522 9 6.56 5.91 4.462 10 6.55 5.90 4.461 11 3.28 5.91 4.462 12 5.90 4.461 13 5.91 4.462 14 5.90 4.461 15 5.91 4.462 16 2.95 4.461 17 4.462 18 4.461 19 4.462 20 4.461 21 2.231 * May not be used for farm business property generally placed in service after 1988. See Table 14, Rev. Proc. 87-57, 1987-2 CB 687. TABLE 6A-2 General Depreciation System: 200% or 150% Declining Balance Switching to Straight-Line* Mid-Quarter Convention (Property Placed in Service in 1st Quarter) Recovery Year 1 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 58.33 35.00 25.00 19.50 8.75 6.563 2 27.78 26.00 21.43 16.50 9.13 7.000 3 12.35 15.60 15.31 13.20 8.21 6.482 4 1.54 11.01 10.93 10.56 7.39 5.996 5 11.01 8.75 8.45 6.65 5.546 6 1.38 8.74 6.76 5.99 5.130 7 8.75 6.55 5.90 4.746 8 1.09 6.55 5.91 4.459 9 6.56 5.90 4.459 10 6.55 5.91 4.459 11 0.82 5.90 4.459 12 5.91 4.460 13 5.90 4.459 14 5.91 4.460 15 5.90 4.459 16 0.74 4.460 17 4.459 18 4.460 19 4.459 20 4.460 21 0.557 May not be used for farm business property generally placed in service after 1988. See Table 15, Rev. Proc. 87-57, 1987-2 CB 687.