Given the information provided below, calculate the 2017 depreciation expense that would be reported on the client's 2017 tax return. You can assume there were no other asset purchases, the client is a Single Member LLC, and has $40,000 in Net Income before any depreciation. Calculate both MACRS and Section 179 that this client qualifies to deduct without generating a Section 179 Carryover.

Chapter 10 Comprehensive Assignment Given the information provided below, calculate the 2017 depreciation expense that would be reported on the client's 2017 tax return. You can assume there were no other asset purchases, the client is a Single Member LLC, and has $40,000 in Net Income before any depreciation. Calculate both MACRS and Section 179 that this client qualifies to deduct without generating a Section 179 Carryover. Year 2017 2017 2017 2017 2017 Purchase Date 8/30/2017 3/1/2017 4/1/2017 6/1/2017 12/1/2017 Useful Life 39 5 7 5 5 Purchase Price $ 375,000.00 $ 15,000.00 $ 80,000.00 $ 28,000.00 $ 40,000.00 2016 2016 2016 2016 2016 3/15/2016 4/1/2016 6/15/2016 7/15/2016 11/10/2016 5 5 5 7 7 $ $ $ $ $ 20,000.00 10,000.00 50,000.00 10,000.00 75,000.00 2015 2015 2015 2015 2015 2/15/2015 6/15/2015 8/15/2015 12/15/2015 12/31/2015 7 5 5 7 7 $ $ $ $ $ 10,000.00 12,000.00 15,000.00 7,000.00 10,000.00 Your work is done. Kindly add me sometime so that the system can allow me submit the solution. Thank you