Christo is a self-employed sales agent and a calendar-year taxpayer. On February 17,2022 , he purchased a gasoline-powered new passenger car (5-year property with a gross vehicle weight of 3,000 pounds) for $30,000. During the year the car was used 65 percent for business and 35 percent for personal purposes. What is the maximum amount of depreciation deduction on the car that Christo may claim for 2022 (including Section 179 expensing and first-year bonus, if allowed)? $1,920 $12,480 $6,000 $7,280 $19,200 Drill-Well Corporation purchased an interest in a oil well for $800,000. During the year, 4,000 barrels of oil were sold from an estimated reserve of 160,000 barrels. Gross revenue from the sale of the oil equaled $200,000 and expenses, other than depletion, totaled $150,000. Drill-Well is not an integrated oil company. Given a statutory depletion rate of 15 percent, what amount of depletion should Drill-Well Corporation deduct for the year? $50,000 $35,000 $20,000 $30,000 $25,000 Christo is a self-employed sales agent and a calendar-year taxpayer. On February 17,2022 , he purchased a gasoline-powered new passenger car (5-year property with a gross vehicle weight of 3,000 pounds) for $30,000. During the year the car was used 65 percent for business and 35 percent for personal purposes. What is the maximum amount of depreciation deduction on the car that Christo may claim for 2022 (including Section 179 expensing and first-year bonus, if allowed)? $1,920 $12,480 $6,000 $7,280 $19,200 Drill-Well Corporation purchased an interest in a oil well for $800,000. During the year, 4,000 barrels of oil were sold from an estimated reserve of 160,000 barrels. Gross revenue from the sale of the oil equaled $200,000 and expenses, other than depletion, totaled $150,000. Drill-Well is not an integrated oil company. Given a statutory depletion rate of 15 percent, what amount of depletion should Drill-Well Corporation deduct for the year? $50,000 $35,000 $20,000 $30,000 $25,000