3. MACRS. (Obj. 1) Florence placed in service the following properties during 2019. Compute Florence's total depreciation expense for 2019 and 2020, assuming that she elects to expense 50 percent of the cost of qualifying property. 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, 2018 Equipment 110,000 June 8, 2018 Furniture 48,000 August 15, 2018 Office building 200,000 October 4, 2018