Part 3 (34 Points) For each problem, assume all taxpayers follow the calendar year and the mid-quarter convention does not apply. 1. What is the adjusted tax basis at the end of 2020 of a $45,000 20-year MACRS asset placed in service during 2016? No Section 179 deduction or bonus depreciation applied. 2. Compute the 2020 cost recovery deduction for a $190,000 7-year MACRS asset placed in service during July 2017 and disposed of during February 2020. Note that the asset did not qualify for a Section 179 deduction, but did qualify for 50 percent bonus depreciation. 3. Compute the 2020 cost recovery deduction for a $6,900,000 apartment complex placed in service on April 4, 2020 4. Compute the 2020 cost recovery deduction for a $4,050,000 warehouse placed in service on January 31, 2009 that is disposed of on May 7, 2020. MacBook Air Part 3 (34 Points) For each problem, assume all taxpayers follow the calendar year and the mid-quarter convention does not apply. 1. What is the adjusted tax basis at the end of 2020 of a $45,000 20-year MACRS asset placed in service during 2016? No Section 179 deduction or bonus depreciation applied. 2. Compute the 2020 cost recovery deduction for a $190,000 7-year MACRS asset placed in service during July 2017 and disposed of during February 2020. Note that the asset did not qualify for a Section 179 deduction, but did qualify for 50 percent bonus depreciation. 3. Compute the 2020 cost recovery deduction for a $6,900,000 apartment complex placed in service on April 4, 2020 4. Compute the 2020 cost recovery deduction for a $4,050,000 warehouse placed in service on January 31, 2009 that is disposed of on May 7, 2020. MacBook Air