Mike purchases a new heavy-duty truck (5-year class recovery property) for his delivery service on March 30, 2020. No other assets were purchased during the year. The truck is not considered a passenger automobile for purposes of the listed property and luxury automobile limitations. The truck has a depreciable basis of $46,000 and an estimated useful life of 5 years. Assume half-year convention for tax. Click here to access the depreciation tables.

a. Calculate the amount of depreciation for 2020 using financial accounting straight-line depreciation (not the straight-line MACRS election) over the truck's estimated useful life.

b. Calculate the amount of depreciation for 2020 using the straight-line depreciation election, using MACRS tables over the minimum number of years with no bonus depreciation or election to expense.