Required information [The following information applies to the questions displayed below.) Woolard Supplies (a sole proprietorship) has taxable income in 2019 of $240,000 before any depreciation deductions (5179. 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. Table 2. Table 3. Table 4 and Table 5) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Asset office furniture (used) Placed In Service Basis March 20 $1,161,000 a. I Woolard elects $50,000 of 8179, what is Woolard's total depreciation deduction for the year? Woolard's totul depreciation Woolard Supplies (a sole proprietorship) has taxable income in 2019 of $240,000 before any depreciation deductions (5179, 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. 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 March 20 $1,161,800 Office furniture (used) b. If Woolard elects the maximum amount of 5179 for the year, what is the amount of deductible $179 expense for the year? What is the total depreciation that Woolard may deduct in 2019? What is Woolard's $179 carryforward amount to next year, if any? Deductible 5179 expense Total depreciation deduction 5179 carryforward Woolard Supplies (a sole proprietorship) has taxable income in 2019 of $240,000 before any depreciation deductions (5179, 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. Table 2. Table 3. Table 4 and Table 5.) (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Asset office furniture (used) Placed In Service Basis March 29 $1,161,000 c. Woolard is concerned about future limitations on its 5179 expense How much 5179 expense should Woolard expense this year if it wants to maximize its depreciation this year and avoid any carryover to future years? 5175 expense