Problem 6-46 (LO 6-3) Michael is the sole proprietor of a small business in June 2020, his business income is $9.700 before consideration of any 5179 deduction. He spends $264.500 on furniture and equipment in 2020. Michael elects to take the $179 deduction and no bonus on a conference table that cost $24.500 (included in the $264,500 total) (Use Table bad and Table 64.2) Required: Determine the maximum cost recovery for 2020 with respect to the conference table (Round your intermediate calculations to the nearest whole dollor amount.)