Required information Skip to question [The following information applies to the questions displayed below.] Woolard Supplies (a sole proprietorship) has taxable income in 2021 of $240,000 before any depreciation deductions (179, bonus, or MACRS) and placed some office furniture into service during the year. The furniture does not qualify for bonus depreciation. (Use MACRS Table 1, Table 2, Table 3, Table 4 and Table 5.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Asset Placed In Service Basis Office furniture (used) March 20 $ 1,200,000

b. If Woolard elects the maximum amount of 179 for the year, what is the amount of deductible 179 expense for the year?

What is the total depreciation that Woolard may deduct in 2021?

What is Woolard's 179 carryforward amount to next year, if any?