2022 depreciation:

2023: depreciation:

2024: depreciation:

In March 2022, Jones Company purchased a Mercedes for use in its business at a cost of $73,000. Required: Assuming no bonus depreciation or Section 179 deduction, calculate the allowable tax depreciation on this asset for 2022, 2023, and 2024. Use and Use the below table for annual depreciation deduction for year 2022 to 2025: TABLE 7.1 Recovery Periods for Tangible Business Assets TABLE 7.2 MACRS for Business Personalty (Half-Year Convention)