Grumpies owns a piece of machinery that it is depreciation on a straight-line basis over 10 years. The ATO allows for accelerated depreciation on this item, allowing Grumpies to depreciate this for tax purposes over 8 years. The tax rate is 30%. At the start of the year Grumpies has the following information in its balance sheet relating to the machine: Machine Accumulated depreciation $500,000.00 ($370,000.00) How much depreciation can Grumpies deduct from its taxable income this year? O $37,500.00 $50,000.00 $62,500.00 None of the other options