Woolard Inc. has taxable income in 2014 of $150,000 before any depreciation deductions (179, bonus, or MACRS) and acquired the following assets during the year: (UseMACRSTable 1,Table 2,Table 3,Table 4andTable 5.)(Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.)

Asset Placed In service Basis

Office Furniture(USED) march 20 $585,000

a.If Woolard elects $50,000 of 179, what is Woolard's total depreciation deduction for the year?

Woolard's total depreciation____?

b.If Woolard elects the maximum amount of 179 for the year, what is the amount of deductible 179 expense for the year? What is the total depreciation expense that Woolard may deduct in 2014?

Deductible 179 expense_____________?

Total depreciation expense____________?

c.Woolard is concerned about future limitations on its 179 expense. How much 179 expense should Woolard expense this year if it wants to maximize its depreciation this year and avoid any carryover to future years?

179 expense