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 $10,100 16,100 2022 2023 and subsequent years Amount 2020 depreciation 2021 depreciation. 2022 depreciation 9,700 5,760