2. Gofast horse farm in Lexington KY, purchased the following assets in 2020. Gofast is a corporation using accrual accounting, straight line depreciation for its books of record, and is on a Jan 1 to Dec 31 reporting period. Work to the nearest whole $. (10 pts). Do not use bonus or section 179. New Purchased Assets 7906 Salvage qty Horse Delivery Vans 3 price 45,000 total Notes GAAP Life 135,000 Accepted delivery May 1st 7 years 5000 each Computers 8 4,000 Race horses 4 375,000 32,000 installed Jan 3 1,500,000 Purchased July 1 3 years no salvage 5 years 20,000 each New fencing and landscaping 1 375,000 375,000 completed April 1 10 years no salvage a. What is the depreciation charged to the books of record (GAAP) for each item? b. What is the tax depreciation for each item assuming that section 179 and bonus depreciation is not being used? and of awods dinom ni ges mois T IH