Lori, who is single, purchased 5-year class property for $200,000 and 7-year class property for $420,000 on May 20, 2022, Lori expects the taxable income derived from her business (before considering any amount expensed under 5 179) to be about $550,000. Lori has determined that she should elect immediate $179 expensing in the amount of $520,000, but she doesn't know which asset she should completely expense under $179. She does not claim any avallable additional first-year depreciation. Click here to access Exhibit 8.1 and the depreciation table to use for this problem. If an amount is zero, enter "0". a. Determine Lor's total cost recovery deduction if the 5.179 expense is first taken with respect to the 5-year class asset. b. Determine Lori's total cost recovery deduction if the $179 expense is first taken with respect to the 7 -year class asset. If 179 expense is first allocated to thi 3 the cost recovery deduction for the year would be s larger. Fe0ctad Check My Work Incorrect d. Determine the present value of the tax savings from the cost recovery deductions for both assets, assuming that Lori is in the 24% marginal tax state and Federal income bracket and that she elects 5179 for the 7 -year asset. Assume MACRS depreciation and a 6% discount rate with the following present value factors: Round each present value computation to the nearest dollar. The present value of the tax savings from the cost recovery deductions for both assets 4 savings under this choice. In addition, determine which option Lori should choose. Round each present value computation to the nearest dollar. The present value of the tax savings under this choice is $ Lori shouid elect to expense th y. asset