On April 1, 2024, Titan Corporation purchases office equipment for $74,000. For tax reporting, the company uses MACRS and classifies the equipment as 5-year personal property. In 2024, this type of equipment is eligible for 60% first-year bonus depreciation For financial reporting, the company uses straight-line depreciation. Assume the equipment has no residual value. Required: 1. Calculate annual depreciation for the five-year life of the equipment according to MACRS. The company uses the half-year convention for tax reporting purposes. 2. Calculate annual depreciation for the five-year life of the equipment according to straight-line depreciation. The company uses partial-year depreciation based on the number of months the asset is in service for financial reporting purposes. 3. In which year(s) is tax depreciation greater than financial reporting depreciation? Calculate annual depreciation for the five-year life of the equipment according to MACRS. The company uses the half-year convention for tax reporting purposes. (Round "Depreciation Rate per MACRS" answers to 2 decimal places. Round your fina answers to nearest whole dollars.) Depreciation Depreciation Year Basis for Rate per MACRS Bonus Total MACRS MACRS Depreciation Depreciation Depreciation 2024 % 2025 2026 2027 % % 2028 2029 % % Total 0.00% $ 0 $ S 0 Calculate annual depreciation for the five-year life of the equipment according to straight-line depreciation. The company uses partial-year depreciation based on the number of months the asset is in service for financial reporting purposes Year Depreciation 2024 2025 2026 2027 2028 2029 Total In which year(s) is tax depreciation greater than financial reporting depreciation? (Negative amounts should be indicated by a minus sign.) in which year(s) is tax depreciation greater than financial reporting depreciation?