3. (30 points) The M&M Company purchased a new office furniture in 2019 at a cost of $140,000. M&M paid S2500 for delivery and setup. Additionally, it took 2 carpenters 3 days of 8 hours work @ $16 an hour to set up the furniture. The furniture has an annual operations and maintenance cost of $750 and warranty cost of $175 per year. The furniture has an estimated useful life of ten years. The salvage value of the furniture at the end of useful life of 10 years will be $7000. a). what is the cost basis of the furniture? (2 points) b). Perform a quick estimation of the depreciation amount and prepare depreciation schedule for the furniture showing deprecation amount and book value for each year. (10 point) c). Prepare a depreciation schedule for tax purposes showing the depreciation allowance and corresponding book value each year. (18 points)