3. MACRS. (Obj. 1) Florence placed in service the following properties during 2020. Compute Florence's total depreciation expense for 2020 and 2021, assuming that she elects to expense 50% of the cost of qualifying property using Section 179. She elects out of bonus depreciation. The machine, equipment, and furniture are 7-year property. Type of Property Cost Date Placed in Service Machine $130,000 March 3, 2020 Equipment 110,000 June 8, 2020 Furniture 48,000 August 15, 2020 Office building 200,000 October 4, 2020