Jason is a single taxpayer who operates a business. In January, 2019 he purchased and placed into service $200,000 of 5-year class property and $300,000 of 7-year class property. Provide your recommendation for the best cost recovery strategy in each of the following situations. Be sure to explain your reasoning and support it as required. Compute and show the total of the $179 and cost recovery deduction that Jason will have for 2019. 1. (5 points) Jason has income from his business before depreciation of $750,000. 2. (5 points) Jason has income from his business before depreciation of $50,000, but he expects to earn income of $650,000 next year. 3. (5 points) Jason has income from his business before depreciation of $30,000, and he expects similar amounts of income for the foreseeable future. Please be sure to address each of the three scenarios and indicate which scenario you are addressing in each section of your response.