Your Client XYZ Corporation has asked you to do research on a depreciation question. XYZ owns $500,000 of 5 year property that they have been depreciating for three years, $250,000 of 7 year property that they have depreciated the last two years. XYZ has asked you to research the IRC for depreciation regulations concerning the new TCJA as they are planning on investing 5,000,000 in 2020 and want to make maximum deduction as they will have estimated taxable income of 1,292,600 for tax year 2020. As part of your research please prepare a table showing the effect of depreciating using 5 year and 7-year depreciation and compart that to what you discover regarding any new tax laws. Your research should show the new tax laws as well as the tables requested.