Austin is the sole owner of a small LLC, specializing in manufacturing hand sanitizer. Austin sends you the following income/expenses items a week ago: Income from the business: $1 million Expenses Factory: $300k purchased in September of this year Machine: $150k purchased in July of this year Employee salary$300k ( 1 full-time factory manager $50k, 15 part-time contractors, $ 10k each. In addition, Austin also hires his dad working as a vice-manager at the factory and pays his dad $ 100k Through some research, you know that the average salary for that same position is about $ 45k) This year is an extremely profitable year for Austin's business For that reason , Austin decided to host an employee appreciation year- end party to celebrate Austin believes that he would need to host quite a " kick-ass" party because his annual pays for the employees are quite low In addition , a fun and special party would be helpful to boost employee morale. Austin decides to rent out a small yacht for a night of 12/30 / 2022 and host the company party there. Below is the cost of the party Yacht rental =\$30k Food and Drinks served on board at the party=\$20k Utilities: $ 30k a ) Assume there are no depreciation expenses allowed ( which also mean no Section 179, and no Bonus depreciation ), calculate Andrew's AGIShow details calculation and explanation b ) How would your answer in a ) change if we now account for asset depreciation expenses ( including 179 Bonus depreciation , and MACRS )? Show details calculation and explanation ) It seems like Austin is trying to implement some tax strategy in this year Identify at least 1 strategy that Austin used and explain how it helps ( expected to help) Austin to reduce his tax liability