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On June 5, 2022, Javier Sanchez purchased and placed in service a new 7-year class asset costang $560,000 for use in his landscaping business, which

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On June 5, 2022, Javier Sanchez purchased and placed in service a new 7-year class asset costang $560,000 for use in his landscaping business, which he operates as a single member LC (Sanchez Landscaping U.C). Dunng 2022, his business generated a net income of 5945,780 before any 5179 immedate expense eiection, Rather than using bonus depreclation, Javier would like to ust 5.179 to expense $200,000 of this asset and then use regutar MACRs to cost recover the femaining cost. If required round your intermediate computations aod final answers to the nearest dollar. click here to access the depreciation table to use for this problem. a. Determine the cost recovery deductions (including firstyear adquonat depreciation) that Javier Sanehez can daim with respect to this asset in 2022 and 2023 . Toral cost recovery deduction in 2022: Total cost recovery deduction in 2023:s x x b. Complete Javier's Form 4562 (page i) for 2022. Notei for 2022, the mavimum 5,179 as $1,000,000 and the thiceshole amount is $2,700,000, If an amount. is zero, enter "0", Enter amounts as positive numbers

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