The depreciation table is in the third picture

0 % 01:10-6 (similar to) Peterson Corporation uses the calendar year as its tax year. It acquires and places into service two depreciable assets during 2019: Asset #1: 7-year property: $980,000 cost placed into service on January 20. Asset #2: 5-year property: $430,000 cost placed into service on August 1. (Click the icon to view the MACRS half-year convention rates.) Read the requirements a. What are Peterson's depreciation deductions for 2019 and 2020 if this is the only property it places into service in those years and Peterson does not elect Sec. 179 expensing and elects out of bonus depreciation for the machine? Calculate Peterson's depreciation deductions for 2019. (Use MACRS rates to two decimal places, X.XXX. Round the MACRS depreciation to the nearest dollar.) 2019 Depreciation Asset #1 140,042 Asset #2 86,000 226,042 Total depreciation Calculate Peterson's depreciation deductions for 2020. (Use MACRS rates to two decimal places. X.XXX. Round the MACRS depreciation to the nearest dollar.) 2020 Depreciation Asset #1 240,002 137,600 Asset #2 377,602 Total depreciation b. What are Peterson's depreciation deductions for 2019 and 2020 if this is the only property it places into service in those years and Peterson elects Sec. 179 expensing for the assets and does not elect out of bonus depreciation? (Assume that Peterson takes the Sec. 179 deduction on Asset #1 first. Use MACRS rates to two decimal places, X.XX%. Round the MACRS depreciation to the nearest dollar. Complete all input fields. Enter a "' no depreciation is taken.) Begin by determining Peterson's depreciation deduction for 2019 if it elects Sec. 179 expensing and does not elect out of bonus depreciation for the assets. Asset #1 Asset #2 Total 2019 Sec. 179 expense 980,000 $ 40,000 $ 1,020,000 Bonus depreciation 0$ 390,000 $ 390,000 $ 0 $ 0$ MACRS depreciation 980,000 $ 430,000 1.410.000 Total depreciation Now determine Peterson's depreciation deduction for 2020 if it elects Sec. 179 expensing and does not elect out of bonus depreciation for the assets. (Use MACRS rates to two decimal places, X.XX%. Round the MACRS depreciation to the nearest dollar. Complete all input fields. Enter a "o" no depreciation is taken.) Asset #1 Asset #2 Total 2020 Sec. 179 expense Bonus depreciation MACRS depreciation Total depreciation $ i Requirements X cial