Modified Accelereted Cost Recovery System (MACRS), Election to Expense (Section 179) ( LO 8.2, B.3) Mike purchases a new heavy-duty truck (5-year class recovery property) for his delivery service on March 30 , 2021. No other assets were purchased during the year. The truckis not considered a passenger automobile for purposes of the listed praperty and luxury automoble limitations, The truck has a depreciable basis of $50,000 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 2021 using financlat accounting straight-line depreciation (not the straight-line Machs election) over the truck's estimated usefull life. b. Calculate the amount of depredation for 2021 using the straight-line depreciatien election, using Macrs tabies over the minimum number of years mith no bonus debreciation or election to expense. C. Calculate the amount of depreciation for 2021, including bonus depreciation but no election to expense, that Mike could deduct using the MAcrs tables; d. Assume no income limit on the expense election. Calculate the amount of depreciation for 2021 including the election to expense but no bonus depreciation that Mike could deduct. -The official table contains a separate row for each year. For case of presentation, certain years are grouped together in this table. In some instances, this will cause a difference of 0.01 percent for the last digit when compared with the official table. ACCELERATED DEPRECIATION FOR PERSONAL PROPERTY ASSUMING TABLE 8.2 HALF-YEAR CONVENTION IFOR PROPERTV PI