In March 2020, Jones Company purchased a Mercedes for use in its business at a cost of $73,000. Required: Assuming no bonus depreciation or Section 179 deduction, calculate the allowable tax depreciation on this asset for 2020, 2021, and 2022. Use Table 7-1 and Table 7-2. Use the below table for annual depreciation deduction for year 2020 to 2022: 2020 2021 2022 2023 and subsequent years Amount 2020 depreciation $ 10,000 2021 depreciation $ 16,000 2022 depreciation $ 9,600 ces $ 10,100 16,100 9,700 5,760