During 2021, Belk Corporation purchases $70,000-worth of equipment for use in its business. Belk's current taxable income before considering the Section 179 deduction is $26,000. Assume that Belk elects not to claim bonus depreciation.
a. What is Belk's maximum Section 179 deduction in 2021? Explain.

b. Belk's 2021 (Typo-Should be 2022) business taxable income---before a Section 179 deduction---is $50,000. What is Belk's maximum Section 179 deduction in 2021 (Typo-Should be 2022)? Explain.