end of year is December 31st for this question

Finally, Clark placed a furnace into service in his business on December 19, 2020. The furnace cost $8,000. The cost of the furnace is the only amount (from either 2019 or 2020) for which Clark made a section 179 election.

Required: Explain what taxable income Clark had from his business in 2019 and 2020 after accounting for the events described above. For purposes of this requirement, assume that (1) prior to calendar year 2018, Clark took bonus depreciation when allowed; (2) Clark chose not to take bonus depreciation for any assets placed into service during calendar years 2018, 2019, and 2020; and (3) other than making a section 179 election with respect to the furnace, Clark has not made any other tax elections (e.g., he has not elected to deduct costs under the de minimis safe harbor rules for low-cost personal property).