Problem $8-31($LO$.2,3)$

Orange Corporation acquired and placed in service new office furniture on August $15,2023,$ for $$130,000.$ Orange does not elect immediate expensing under $179.$ Orange claims any available additional first$-$year depreciation.

If required, round your answer to the nearest dollar.

Click here to access Exhibit $8\mathrm{.}1$ and the depreciation tables in the textbook.

a$.$ Determine Orange's cost recovery for $2023.$

The office furniture is classified as class of property for MACRS.

If bonus depreciation is elected, Orange's deduction is $

b$.$ Determine Orange's cost recovery for $2023$ if Orange decided to only use $$52,000$ of immediate expensing and normal MACRS on the balance of the acquisition cost.

$