In March 2021, 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 2021, 2022, and 2023. Use Table 7-1 and Use the below table for annual depreciation deduction for year 2021 to 2024 : TABLE 7.1 Recovery Periods for Tangible Business Assets TABLE 7.2 MACRS for Business Personalty (Half-Year Convention)