Please help with calculating the depreciation.

Thank you

Peterson Corporation uses the calendar year as its tax year. It acquires and places into service two depreciable assets during 2021: Asset #1: 7-year property; $900,000 cost; placed into service on January 20. Asset #2: 5-year property; $450,000 cost; placed into service on August 1. (Click the icon to view the MACRS half-year convention rates.) . Read the requirements. a. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson does not Calculate Peterson's depreciation deductions for 2021. (Use MACRS rates to two decimal places, X.XX%. Round the MACRS depreciation to the neare 2021 Depreciation Asset #1 Asset #2 Total depreciation Reference X General Depreciation System--MACRS Personal Property Placed in Service After 12/31/86 Applicable Convention: Half-Year Applicable Depreciation Method: 200 or 150 Percent Declining Balance Switching to Straight Line Recovery period and Depreciation Rates 3-Year 7-Year 20-Year 33.33 44.45 14.81 7.41 5-Year 20.00 32.00 19.20 10-Year 10.00 18.00 14.29 24.49 17.49 12.49 14.40 11.52 Recovery Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 11.52 8.93 5.76 8.92 15-Year 5.00 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 3.750 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 8.93 4.46 Van CH 4 in Requirements What are Peterson's depreciation deductions for 2021 and 2022 in each of the following situations if this is the only property it places into service in those years? a. Peterson does not elect Sec. 179 expensing and elects out of bonus depreciation for the machine. b. Peterson elects Sec. 179 expensing for the assets and does not elect out of bonus depreciation. c. Peterson does not elect Sec. 179 expensing and does not elect out of bonus depreciation. LICE a. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson does not elect Sec 179 expensing and elects out of bonus depreciation for the machine? Calculate Peterson's depreciation deductions for 2021. (Use MACRS rates to two decimal places XXX%. Round the MACRS depreciation to the nearest dollar) 2021 Depreciation Asset #1 Asset #2 Total depreciation Calculate Peterson's depreciation deductions for 2022. (Use MACRS rates to two decimal places X.XX%. Round the MACRS depreciation to the nearest dollar.) 2022 Depreciation Asset #1 Asset #2 Total depreciation b. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson elects Sec 179 expensing for the assets and does not elect out of bonus depreciation (Assume that Peterson 179 deduction on Asset #1 first Use MACRS rates to two decimal places, XXX% Round the MACRS depreciation to the nearest dollar. Complete all input fields Enter a "0" no depreciation is taken) Beain by determinina Peterson's depreciation deduction for 2021 if it elects Sec. 179 expensing and does not elect out of bonus depreciation for the assets. Read the requirements b. What are Poterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson elects Sec 179 expensing for the assets and does not elect out of bonus depreciation? (Assume that Peterson takes the Sec 179 deduction on Assot i lest Use MACRS rates to two decimal places, XXX% Round the MACRS depreciation to the nearest dollar Complete all input fields Enter a "0" no depreciation is taken) Bogin by determining Peterson's depreciation deduction for 2021 if it elects Sec 179 expensing and does not elect out of bonus depreciation for the assets Asset #1 Asset #2 Total 2021 Sec. 179 exponso 0 0 Bonus dopreciation 0 0 0 0 0 0 MACRS depreciation 0 0 0 Total depreciation Now determino Peterson's depreciation deduction for 2022 if it elects Sec 179 expensing and does not elect out of bonus depreciation for the assets (Use MACRS rates to two decimal places, XXX% Round the MACRS depreciation to the nearest dollar Complete all Input folds Enter a "0" no depreciation is taken) Asset #1 Asset 2 Total 2022 Sec. 179 expense 0 0 0 0 Bonus depreciation 0 0 0 MACRS doproclation 0 0 Total depreciation 0 b. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it pla 179 deduction on Asset #1 first. Use MACRS rates to two decimal places, X.XX%. Round the MA Begin by determining Peterson's depreciation deduction for 2021 if it elects Sec. 179 expensing a Asset #1 Asset #2 Total 2021 0 0 0 Sec. 179 expense Bonus depreciation 0 0 0 0 0 MACRS depreciation 0 0 0 Total depreciation Now determine Peterson's depreciation deduction for 2022 if it elects Sec. 179 expensing and does input fields. Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2022 0 0 Sec. 179 expense Bonus depreciation 0 0 0 0 MACRS depreciation 0 0 0 Total depreciation (Click the icon to view the MACRS hall-year convention rates) Read the requirements c. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson does not elect Sec 179 expensing and does not elect out of bonus depreciation? Begin by determining Peterson's depreciation deduction for 2021 if it does not elect Sec. 179 and does not elect out of bonus depreciation for the assets. (Use MACRS rates to two decimal places XXX% Round the MACRS depreciation to the nearest dollar Completa all input fields Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2021 Sec. 179 expense 0 0 0 0 0 Bonus depreciation 0 0 0 0 MACRS depreciation 0 0 0 Total depreciation Now determine Peterson's depreciation deduction for 2022 if it does not elect Sec 179 and does not elect out of bonus depreciation for the assets. (Use MACRS rates to two decimal places, XXX% Round the MACRS depreciation to the nearest dollar Complete all Input fields. Enter a "0" no depreciation is taken) Asset #1 Asset #2 Total 2022 0 ol 0 0 Sec. 179 expense Bonus depreciation MACRS depreciation 0 0 0 Total depreciation Time Remaining: 0236.36 Next t c. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places Begin by determining Peterson's depreciation deduction for 2021 if it does not elect Sec. 179 and doe all input fields. Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2021 0 0 Sec. 179 expense Bonus depreciation 0 0 0 0 MACRS depreciation 0 0 Total depreciation Now determine Peterson's depreciation deduction for 2022 if it does not elect Sec. 179 and does not ele input fields. Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2022 0 0 0 Sec. 179 expense Bonus depreciation 0 0 0 0 0 0 MACRS depreciation 0 0 Total depreciation Peterson Corporation uses the calendar year as its tax year. It acquires and places into service two depreciable assets during 2021: Asset #1: 7-year property; $900,000 cost; placed into service on January 20. Asset #2: 5-year property; $450,000 cost; placed into service on August 1. (Click the icon to view the MACRS half-year convention rates.) . Read the requirements. a. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson does not Calculate Peterson's depreciation deductions for 2021. (Use MACRS rates to two decimal places, X.XX%. Round the MACRS depreciation to the neare 2021 Depreciation Asset #1 Asset #2 Total depreciation Reference X General Depreciation System--MACRS Personal Property Placed in Service After 12/31/86 Applicable Convention: Half-Year Applicable Depreciation Method: 200 or 150 Percent Declining Balance Switching to Straight Line Recovery period and Depreciation Rates 3-Year 7-Year 20-Year 33.33 44.45 14.81 7.41 5-Year 20.00 32.00 19.20 10-Year 10.00 18.00 14.29 24.49 17.49 12.49 14.40 11.52 Recovery Year Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 11.52 8.93 5.76 8.92 15-Year 5.00 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 11.52 9.22 7.37 6.55 6.55 6.56 6.55 3.28 3.750 7.219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 8.93 4.46 Van CH 4 in Requirements What are Peterson's depreciation deductions for 2021 and 2022 in each of the following situations if this is the only property it places into service in those years? a. Peterson does not elect Sec. 179 expensing and elects out of bonus depreciation for the machine. b. Peterson elects Sec. 179 expensing for the assets and does not elect out of bonus depreciation. c. Peterson does not elect Sec. 179 expensing and does not elect out of bonus depreciation. LICE a. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson does not elect Sec 179 expensing and elects out of bonus depreciation for the machine? Calculate Peterson's depreciation deductions for 2021. (Use MACRS rates to two decimal places XXX%. Round the MACRS depreciation to the nearest dollar) 2021 Depreciation Asset #1 Asset #2 Total depreciation Calculate Peterson's depreciation deductions for 2022. (Use MACRS rates to two decimal places X.XX%. Round the MACRS depreciation to the nearest dollar.) 2022 Depreciation Asset #1 Asset #2 Total depreciation b. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson elects Sec 179 expensing for the assets and does not elect out of bonus depreciation (Assume that Peterson 179 deduction on Asset #1 first Use MACRS rates to two decimal places, XXX% Round the MACRS depreciation to the nearest dollar. Complete all input fields Enter a "0" no depreciation is taken) Beain by determinina Peterson's depreciation deduction for 2021 if it elects Sec. 179 expensing and does not elect out of bonus depreciation for the assets. Read the requirements b. What are Poterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson elects Sec 179 expensing for the assets and does not elect out of bonus depreciation? (Assume that Peterson takes the Sec 179 deduction on Assot i lest Use MACRS rates to two decimal places, XXX% Round the MACRS depreciation to the nearest dollar Complete all input fields Enter a "0" no depreciation is taken) Bogin by determining Peterson's depreciation deduction for 2021 if it elects Sec 179 expensing and does not elect out of bonus depreciation for the assets Asset #1 Asset #2 Total 2021 Sec. 179 exponso 0 0 Bonus dopreciation 0 0 0 0 0 0 MACRS depreciation 0 0 0 Total depreciation Now determino Peterson's depreciation deduction for 2022 if it elects Sec 179 expensing and does not elect out of bonus depreciation for the assets (Use MACRS rates to two decimal places, XXX% Round the MACRS depreciation to the nearest dollar Complete all Input folds Enter a "0" no depreciation is taken) Asset #1 Asset 2 Total 2022 Sec. 179 expense 0 0 0 0 Bonus depreciation 0 0 0 MACRS doproclation 0 0 Total depreciation 0 b. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it pla 179 deduction on Asset #1 first. Use MACRS rates to two decimal places, X.XX%. Round the MA Begin by determining Peterson's depreciation deduction for 2021 if it elects Sec. 179 expensing a Asset #1 Asset #2 Total 2021 0 0 0 Sec. 179 expense Bonus depreciation 0 0 0 0 0 MACRS depreciation 0 0 0 Total depreciation Now determine Peterson's depreciation deduction for 2022 if it elects Sec. 179 expensing and does input fields. Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2022 0 0 Sec. 179 expense Bonus depreciation 0 0 0 0 MACRS depreciation 0 0 0 Total depreciation (Click the icon to view the MACRS hall-year convention rates) Read the requirements c. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places into service in those years and Peterson does not elect Sec 179 expensing and does not elect out of bonus depreciation? Begin by determining Peterson's depreciation deduction for 2021 if it does not elect Sec. 179 and does not elect out of bonus depreciation for the assets. (Use MACRS rates to two decimal places XXX% Round the MACRS depreciation to the nearest dollar Completa all input fields Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2021 Sec. 179 expense 0 0 0 0 0 Bonus depreciation 0 0 0 0 MACRS depreciation 0 0 0 Total depreciation Now determine Peterson's depreciation deduction for 2022 if it does not elect Sec 179 and does not elect out of bonus depreciation for the assets. (Use MACRS rates to two decimal places, XXX% Round the MACRS depreciation to the nearest dollar Complete all Input fields. Enter a "0" no depreciation is taken) Asset #1 Asset #2 Total 2022 0 ol 0 0 Sec. 179 expense Bonus depreciation MACRS depreciation 0 0 0 Total depreciation Time Remaining: 0236.36 Next t c. What are Peterson's depreciation deductions for 2021 and 2022 if this is the only property it places Begin by determining Peterson's depreciation deduction for 2021 if it does not elect Sec. 179 and doe all input fields. Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2021 0 0 Sec. 179 expense Bonus depreciation 0 0 0 0 MACRS depreciation 0 0 Total depreciation Now determine Peterson's depreciation deduction for 2022 if it does not elect Sec. 179 and does not ele input fields. Enter a "0" no depreciation is taken.) Asset #1 Asset #2 Total 2022 0 0 0 Sec. 179 expense Bonus depreciation 0 0 0 0 0 0 MACRS depreciation 0 0 Total depreciation