Please note that all final answers have been rounded to the nearest $10. If a problem requires multiple computations, round nothing until attaining the final answer and then round it to the nearest $10.

7. During 2021 , calendar year Corp. A purchases office furniture costing $10,000, machinery costing $90,000, computers costing $12,000, and an office building costing $1,060,000, $100,000 of which is allocated to land. These are the only acquisitions of depreciable acquired during the year. What is the maximum Code Sec. 179 deduction available for 2021 ? A. $102,000 B. 90,000 C. 112,000 D. 100,000 E. None of the above Anne Able, an employee of Corp. A, uses her personal automobile each day to drive to and from Corp. A's bank where she deposits the company receipts. Anne also uses the vehicle about once per month to drive to the local office supply store to purchase copy machine paper and other office supplies. Assume that Anne is not reimbursed by Corp. A for the use of her vehicle and that she drove a total of 5,100 business miles in 2021. Assume that the IRS 2021 standard vehicle mileage rate is 57.5% per mile and that Anne's 2021AGI is $40,000. What vehicle itemized deduction amount may Anne claim on her 2021 Form 1040? A. $2,930 B. 2,120 C. 1,470 D. 1,100 E. None of the above 7. During 2021 , calendar year Corp. A purchases office furniture costing $10,000, machinery costing $90,000, computers costing $12,000, and an office building costing $1,060,000, $100,000 of which is allocated to land. These are the only acquisitions of depreciable acquired during the year. What is the maximum Code Sec. 179 deduction available for 2021 ? A. $102,000 B. 90,000 C. 112,000 D. 100,000 E. None of the above Anne Able, an employee of Corp. A, uses her personal automobile each day to drive to and from Corp. A's bank where she deposits the company receipts. Anne also uses the vehicle about once per month to drive to the local office supply store to purchase copy machine paper and other office supplies. Assume that Anne is not reimbursed by Corp. A for the use of her vehicle and that she drove a total of 5,100 business miles in 2021. Assume that the IRS 2021 standard vehicle mileage rate is 57.5% per mile and that Anne's 2021AGI is $40,000. What vehicle itemized deduction amount may Anne claim on her 2021 Form 1040? A. $2,930 B. 2,120 C. 1,470 D. 1,100 E. None of the above