The Cupcakery is a chain of bakeries in the mid-Atlantic region of the US that operates using on a calende-gear hoes. As the net profit (loss) for the Cupcakery in 2022 before incorporating any depreciation deduction is $410,000 of net profit. In addition, assume the only tangible personal property the company still owns in 2022 is a large amount of equipment that it had purchased on May 5, 2020 for $550,000, which has been used each year to make its cupcakes. In the year in which it acquired the equipment the Cupcakery opted not to take any Sec. 179 on the equipment and no other tangible personal was purchased throughout 2020. However, the company did apply h depreciation to the equipment in 2020.

What is the net profit (loss) for 2022 after include the relevant total depreciation deduction for year 2022?

Use the appropriate depreciation table from your note sheet textbook where necessary

a. $341305 net profit

b. $304300 net profit

c. $313805 net profit

d. None of the answers given here

V. APPENDIX Mid-Quarter Depreciation Table for Personal Property by Quarter Placed in Service and Recovery Period (Excerpts from Rev. Proc. 87-57) V. APPENDIX Mid-Quarter Depreciation Table for Personal Property by Quarter Placed in Service and Recovery Period (Excerpts from Rev. Proc. 87-57)