QUESTION 37 Rocky bought 7-year class property on January 4, this year, for $420,000. Assume his business income is $6,000 before the deduction for the $179 expense. The amount of currently deductible 179 expense is: O a. $6,000 Ob $420,000 O c $500,000 O d. None of the above QUESTION 38 Rocky bought 7-year class property on January 4, this year, for $420,000. Assume his business income is $6,000 before the deduction for the $179 expense. The MACRS table percentage (if the table is to be used) which would be applied to the remaining basis of the asset (if any basis remains) to calculate cost recovery in the first year (in addition to the 179 expense) is: O a. 0 0 O b..20 Oc.1429 O d. None of the above