Walt purchased electronic equipment (five-year property) for $5,000. He could use the electronic equipment exclusively for his business, or he could allow his family to use the electronic equipment 60% of the time and 40% would be for business use. Assume that Walt would not elect $179 expensing or 100% bonus, and that he is in the 24% tax bracket. (Use Table 6A-1) Required: a. Determine the tax deduction for the year of acquisition under both alternatives for the business use portion. b. What is the overall tax savings between the two alternatives? In 2020 , Jessica bought a new heavy truck for $45,000 to use 80% for her sole proprietorship. Total miles driven include 12,000 in 2020, 14,500 in 2021, and 13,000 in 2022. (Use Table 6A-1) Required: a. If Jessica uses the standard mileage method, how much may she deduct on her 2022 tax return (miles were incurred ratably throughout the year)? b. What is the deduction for 2022 assuming the actual method was used from the beginning? Calculate depreciation only; the truck is not limited by the luxury auto rules. Also, assume $179 was not elected in the year of purchase