In general, S&P's owners (it is a "C" corporation) want to maximize first-year tax depreciation and related deductions. In this context, they also hope to avoid keeping annual depreciation records, if possible. However, after conferring with their financial and legal advisors, related to certain financial covenants and regulatory issues (beyond our scope here), S&P will only consider claiming "bonus depreciation" for software acquisitions, if such a bonus allowance is otherwise available. Given the foregoing, the task is to determine how best to achieve S&P's overall goals relative to depreciation and related deductions. In other words, taking into account the business constraints, how does one apply the federal tax law to maximize their 2022 deductions and minimize the record-keeping burden? Please make sure to consider all these elements when completing the MACRS Template provided as part of this project - make sure to compute the maximum deduction.

Note: The two columns labeled "Remianing Basis" contain an Excel Function and do not represent my answer. The first "Remaining Basis" (leftmost) calculates "Cost" -"179 Expense Amount". The second "Remaining Basis" (rightmost) calculates "Remaining Basis (leftmost)"- "Bonus Depreciation".