Robert is a sole proprietor who uses the calendar year as his tax year. On July 20, 2014 he acquired and placed in service a business machine, a 7-year asset, for $50,000. No other property was acquired in 2014.

a. What is the amount of depreciation allowed in 2014 and 2015 if Sec.179 depreciation (first year expense election) was not elected?

b. What is the amount of depreciation allowed in 2014 and 2015 if Sec.179 was elected