On August 1, 2020, Gerald purchased manufacturing equipment for use in his business. The equipment cost $14,000 and has an estimated useful life 10 and salvage value of 2,000 and MACRS class life of 7 years. Answer each of the following independent situations. Show supporting computations.

a. Calculate the amount of depreciation on the manufacturing equipment for 2020 using the accelerated MACRS method and no election to expense or use bonus depreciation is made.

b. Calculate the amount of depreciation on the manufacturing equipment for 2020 using the accelerated MACRS method and bonus depreciation used but no election to expense.

c. Calculate the amount of depreciation on the manufacturing equipment for 2020 using the straight-line MACRS optional method and no election to expense or use bonus depreciation is made.

d. Calculate the amount of depreciation on the manufacturing equipment for 2020 for financial accounting purposes using the straight-line method of depreciation.