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Please note that the answer isn't 5,879 nor it is 5,078.604 not it is 5896. Please provide a clear solution. Problem 9-33 (Algorithmic) (LO. 5)

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Please note that the answer isn't 5,879 nor it is 5,078.604 not it is 5896. Please provide a clear solution.

Problem 9-33 (Algorithmic) (LO. 5) Melanie is employed full-time as an accountant for a national hardware chain. She also has recently started a private consulting practice, which provides tax advice and financial planning to the general public. For this purpose, she maintains an office in her home. Expenses relating to her home for 2020 are as follows: Real property taxes $6,250 7,500 Interest on home mortgage Operating expenses of home 1,563 Melanie's residence cost $448,000 (excluding land) and has living space of 2,000 square feet, of which 22% (440 square feet) is devoted to business. The office was placed in service in February 2019, and under the Regular Method, Melanie had an unused office in the home deduction of $525 for 2019. Assume there is sufficient net income from her consulting practice. Click here to access the depreciation table to use for this problem. Round your final answer to nearest dollar. a. What amount can Melanie claim this year for her office in the home deduction under the Regular Method? $ 5,879 X Feedback Check My Work The office in the home deduction can be determined in either of two ways: the Regular (actual expense) Method or the Simplified (safe harbor) Method. b. What is Melanie's office in the home deduction under the Simplified Method? 1,500

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