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Required information [ The following information applies to the questions displayed below. ] Woolard Supplies ( a sole proprietorship ) has taxable income in 2

Required information
[The following information applies to the questions displayed below.]
Woolard Supplies (a sole proprietorship) has taxable income in 2020 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.)
\table[[Asset,Placed In],[Office furniture (used),Service Basis]]
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 2020? What is Woolard's $179 carryforward amount to next year, if any?
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