6. ADS and MACRS. (Obj, 1) Peter purchased the following new properties to use in his business. Equipment: Acquired in April, 2016 at a cost of $144,000 Furniture: Acquired in March, 2020 at a colt of $84,000 Computer: Acquired in July, 2022 at a cost of $10,000 a. Compute Peter's 2022 depreciation expense. Peter has never elected Section 179, nor has he ever elected out of taking bonus depreciation. Peter elects ADS straight-line method with a ten-year life to depreciate the equipment. He uses tegular (accelerated) MACRS to deprecinte the furniture and computer. The half-gear convention applies to all three properties. b. Same as in Part a,, except that the mid-quarter convention applied to all personal property placed in service in 2020. c. Same as in Part a. except thar Peter purchased each of these properties in 2022 and elected out of bonus depreciation. Compute depreciation for each of these properties for 2022 using the regular MACRS depreciation allowed for each property without electing Section 179. The equipment is 7-year property and ADS is not elected. 7. MACRS. (Obj, 1) Marv uses the following properties in his business. Computer: Acquired new in Augut 24, 2020 at a cost of $32,000 Machine: Acquired new on October 11,2017 at a cost of $120,000 Furniture Acquired new on January 16, 2014 at a cost of $42,000 a. Compute Marv's 2022 depreciation expense. Marv has never elected Section 179, but took bonus depreciation. He uses regular (accelerated) MACRS to depreciate these propertics. The mid-quarter convention applies to property placed in service during 2013 and 2017. The half-year convention applied to property placed in service in 2020 . The machine is 7-year property. b. Same as in Part a.n except that Marv purchased each of these properties in 2022 and elected out of bonus depreciation. Compute depreciation for each of these properties for 2022 using regular MACRS depreciation. Assume Marv does not elect to take Section 179 on any of the three properties. Also assume these were the only properties placed in service during the year for purposes of determining the applicable convention