Orange Corporation acquired and placed in service new office furniture on August 15, 2023, for $130,000.0 ange does not eiect immediate expersing under $179. Orange claims any avaflable additional first-year depreciation. If required, round your answer to the nearest dollar. Click here to access Fxhibit 8.1 and the depreciation tables in the textbook. a. Determine Orange's cost recovery for 2023. The office furniture is classified as class of property for MACPS. If bonus depreciation is elected, Orange's deduction is 5 x b. Determine Orange's cost recovery for 2023 if Orange decided to anly use $52,000 of immediate expenung and normal Macks un the balance of the acquisition cost. Ched Mr Wart Under the modified accelerated cost recovery system (MACRS), the cost of an asset is recovered over a predeternined period that in genersy, shorter than thet useful life of the asset or the period the asset is used to produce incone, The Mucrs rules were designed to encourage Orange Corporation acquired and placed in service new office furniture on August 15, 2023, for $130,000.0 ange does not eiect immediate expersing under $179. Orange claims any avaflable additional first-year depreciation. If required, round your answer to the nearest dollar. Click here to access Fxhibit 8.1 and the depreciation tables in the textbook. a. Determine Orange's cost recovery for 2023. The office furniture is classified as class of property for MACPS. If bonus depreciation is elected, Orange's deduction is 5 x b. Determine Orange's cost recovery for 2023 if Orange decided to anly use $52,000 of immediate expenung and normal Macks un the balance of the acquisition cost. Ched Mr Wart Under the modified accelerated cost recovery system (MACRS), the cost of an asset is recovered over a predeternined period that in genersy, shorter than thet useful life of the asset or the period the asset is used to produce incone, The Mucrs rules were designed to encourage