Help! I need assistance trying to find the solution with this problem and need detailed explanations so I can better understand it. I would greatly appreciate it.

Lori, who is single, purchased 5-year class property for $200,000 and 7-year class property for $420,000 on May 20, 2019. Lori expects the taxable income derived from her business (without regard to the amount expensed under 179) to be about $550,000. Lori has determined she should elect immediate 179 expensing in the amount of $520,000, but she doesnt know which asset she should completely expense under 179. She does not claim any available additional first-year depreciation.

a. Determine Loris total deduction if the 179 expense is first taken with respect to the 5-year class asset.

b. Determine Loris total deduction if the 179 expense is first taken with respect to the 7-year class asset.

c. What is your advice to Lori? d. Assume that Lori is in the 24% marginal tax bracket and that she elects 179 on the 7-year asset.

Determine the present value of the tax savings from the cost recovery deductions for both assets.

e. Assume the same facts as in part (d), except that Lori decides not to use 179 on either asset. Determine the present value of the tax savings under this choice. In addition, determine which option Lori should choose.

Note: please provide answers and explanations on Word or Excel format as written responses are hard to read.