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Required information [The following information applies to the questions displayed below.] Woolard Supplies (a sole proprietob. If Woolard elects the maximum amount of $179 for the year, what is the amount of deductible $179 expense for the year? Whac. Woolard is concerned about future limitations on its $179 expense. How much $179 expense should Woolard expense this yearTable 1 MACRS Half-Year Convention 15-Year 20-Year Year 1 3.750% 7.219 Year 2 Year 3 Depreciation Rate for Recovery Period 3-TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for RecoveryTABLE 3 Residential Rental Property Mid-Month Convention Straight Line-27.5 Years Month Property Placed in Service Month MontTABLE 4 Nonresidential Real Property Mid-Month Convention Straight Line-31.5 Years (for assets placed in service before May 1TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line — 39 Years (for assets placed in service on or after

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Anwers are highlighted in yellow: As per tax year 2019: Solution: a) Particulars Property placed in service in 2019 Elected $

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