3. Jadon Johnson owns a used bookstore in Long Beach called Story Books. It is a sole proprietorship located at 2 Pine Ave, Long Beach, CA 90802. Its income and associated expense+ for the year ending December 31, 2021, are the following: Gross income $ 570,000 Less: Cost of Goods Sold (372,000) Gross profit 198,000 Interest expense (7,800) Depreciation expense ? Office expense (54,000) Supplies expense (2,100) Meals expense (50%) (4,500) Entertainment expense (1,900) Utilities expense (3,700) Wages (70,000) FICA taxes expense (7,963) Total expense (1) Net income/loss) $ ? On January 1, 2021, Story Books purchased and place in service a new delivery van for $45,000. The van's weight does not exceed 6,000 pounds. Furthermore, it purchased bookcases (7-year property) for $30,000, and computers (5-year property) for $11,000 on March 1, 2021. Assume Story Books does not have any depreciable assets other than the new assets placed in service for 2021. It elected to use MACRS. Story Books elected out of bonus depreciation and elected not to claim section 179. The business activity qualifies for the QBI deduction