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On April $1,2024,$ Titan Corporation purchases office equipment for $$75,000.$ For tax reporting, the company uses MACRS and classifies the equipment as five$-$year personal property. In $2024,$ this type of equipment is eligible for $60\%$ first$-$year bonus depreciation. For financial reporting, the company uses straight$-$line depreciation. Assume the equipment has no residual value.

Required:

Calculate annual depreciation for the five$-$year life of the equipment according to MACRS. The company uses the half$-$year convention for tax reporting purposes.

Calculate annual depreciation for the five$-$year life of the equipment according to straight$-$line depreciation. The company uses partial$-$year depreciation based on the number of months the asset is in service for financial reporting purposes.

In which year$($s$)$ is tax depreciation greater than financial reporting depreciation?

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Calculate annual depreciation for the five$-$year life of the equipment according to MACRS. The company uses the half$-$year convention for tax reporting purposes.

Note: Round "Depreciation Rate per MACRS" answers to $2$ decimal places. Round your final answers to nearest whole dollars.

$\backslash$table$[[$Year$,\backslash$table$[[$Depreciation$],[$Basis for$],[$MACRS$]],x,\backslash$table$[[$Depreciation$],[$Rate per$],[$MACRS$]],,=,\backslash$table$[[$MACRS$],[$Depreciation$]],\backslash$table$[[$Bonus$],[$Depreciation$]],\backslash$table$[[$Total$],[$Depreciation$]]],[2024,,x,,\%,=,$$$,102,000,,],[2025,,x,,\%,=,,9,600,15,000,15,000x$