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 (5179, 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.) Basis Office furniture (used) March 20 $1,189,000 Placed In Service Asset a. If Woolard elects $50,000 of $179, what is Woolard's total depreciation deduction for the year? Woolard's total depreciation 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 quality for bonus depreciation (Use MACRS Table 1. Table 2. Table 2. Table 4 and Table 5.) (Do not found intermediate calculations. Round your answers to the nearest whole dollar amount.) Placed in Service office furniture (used) March 20 $1,149,000 Asset Basis b. Woolard elects the maximum amount of 5179 for the year, what is the amount of deductible 5179 expense for the year? What is the total depreciation that Woolard may deduct in 2020? What is Woolard's 5179 carryforward amount to next year, if any? Deductible 5179 expense Total depreciation deduction 5179 carryforward 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 quality for bonus depreciation (Use MACRS Table 1. Table 2. Table:3. Table. A and Table 5) (Do not round intermediate calculations Round your answers to the nearest whole dollar amount) Placed in Asset Service office furniture (used) March 20 51,189,000 c. Woolard is concerned about future limitations on its 5179 expense. How much 5179 expense should Woolard expense this year it wants to maximize its depreciation this year and avoid any carryover to future years? $179 expense