Carlos purchased a new business asset (five-year property) on February 10, 2021, at a cost of $20,000. He also purchased a new business asset (seven-year property) on October 15, 2021, at a cost of $18,000. Carlos did not clect to expense either of the assets under $ 179 and did not elect straight-line cost recovery. He did, however, elect to take the maximum allowable additional first-year depreciation. Determine the cost recovery deduction for 2021 for these assets. O a. so O b.59,586 O c. $21,915 O d. $38,000 ddio e. $6,572 On April 1 of the current year, Will converted a machine from personal use to business use. At the time of the conversion, the machine was worth $50,000. Will purchased the machine five years ago for $90,000. The machine is still encumbered by a $20,000 note. What is the basis of the machine for cost recovery? a. $50,000 O b.$90,000 O C. $30,000 O d. $110,000 O e. $70,000