Required information The following information applies to the questions displayed below Woolard Supplies (a sole-proprietorship) has taxable income in 2018 of $240,000 before any depreciation deductions ($179, bonus, or MACRS) and placed some office furniture into service during the year. The furniture had been used previously by Liz Woolard (the owner of the business) before it was placed in service by the business. (Use MACRS Table 1 Iable 2. Table 3. Table 4 and Table 5) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Placed In Service March 20 $1,194,000 Asset Basis Office furniture (used) a. If Woolard elects $50,000 of 5179, what is Woolard's total depreciation deduction for the year? Woolard's total depreciation b. If Woolardelects the maximum amount of $179 for the year, what is the amount of deductible 5179 expense for the year? What is the total depreciation that Woolard may deduct in 2018? What is Woolard's $179 carryforward amount to next year, if any? Deductible 5179 expense Total depreciation $179 carryforward c. Woolard is concerned about future limitations on its $179 expense. How much $179 expense should Woolard expense this year if it wants to maximize its depreciation this year and avoid any carryover to future years