Required: Compute Hiram's maximum cost recovery deduction for 2021. In making your computation, assume that taxable income before depreciation exceeds $2,000,000. Use Table 7-2. (Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. 2021 Depreciation 5,378 8,064 X Furniture $ $ Equipment Machinery Total MACRS Depreciation Section 179/bonus on new tools Maximum 2021 cost recovery deduction $ 6,682 20.124 589.000 609 124 $ TABLE 7.2 MACRS for Business Personalty (Half-Year Convention) Year 3-Year 5 Year 15 Year 20-Year 33.33% 44.45 14.81 7.41 20.00% 32.00 19.20 11:52 11.52 5.76 Recovery Period 7-Year 10-Year Depreciation Rate 14.29% 10.00% 24.49 18.00 17.49 14.40 12.49 11.52 8.93 9.22 8.92 7:37 8.93 6.55 4.46 6.55 6.56 6.55 3.28 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 5.00% 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 3.75096 7219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 Required: Compute Hiram's maximum cost recovery deduction for 2021. In making your computation, assume that taxable income before depreciation exceeds $2,000,000. Use Table 7-2. (Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. 2021 Depreciation 5,378 8,064 X Furniture $ $ Equipment Machinery Total MACRS Depreciation Section 179/bonus on new tools Maximum 2021 cost recovery deduction $ 6,682 20.124 589.000 609 124 $ TABLE 7.2 MACRS for Business Personalty (Half-Year Convention) Year 3-Year 5 Year 15 Year 20-Year 33.33% 44.45 14.81 7.41 20.00% 32.00 19.20 11:52 11.52 5.76 Recovery Period 7-Year 10-Year Depreciation Rate 14.29% 10.00% 24.49 18.00 17.49 14.40 12.49 11.52 8.93 9.22 8.92 7:37 8.93 6.55 4.46 6.55 6.56 6.55 3.28 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 5.00% 9.50 8.55 7.70 6.93 6.23 5.90 5.90 5.91 5.90 5.91 5.90 5.91 5.90 5.91 2.95 3.75096 7219 6.677 6.177 5.713 5.285 4.888 4.522 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231