please answer all questions

All final answers must be rounded to the nearest $10

16. On August 4, 2021, calendar year taxpayer Ben Baker acquires and places in service in his sole proprietorship a machine at a cost of $70,000. Assume that the machine has a useful life of 15 years and a salvage value of $10,000. Assume also that the machine is a MACRS 7 year asset, that Ben does not claim an IRC 179 deduction or bonus depreciation, and that Ben purchases no other depreciable assets during the year. What depreciation deduction will Ben claim on his 2023 (third year) Form 1040, Schedule C? A $10,490 B 3,500 10,720 D 5,750 E None of the above 17. Joan Johnson is married to a nonresident alien who files federal income tax returns using a June 30 fiscal year. Joan provides 60% of the cost of maintaining a household in which a qualifying child of Joan resides for all twelve months of calendar year 2021. Assuming that Joan seeks to incur the lowest possible income tax liability, what 2021 Form 1040 filing status will Joan use? A Single B Married joint Married separate D Head of household E None of the above 18. Chris Crone (age 67) is married, but will file as married separate. Assume that Chris has one child, who qualifies as his dependent. Assume also that Chris' spouse has already filed Form 1040 (as married separate) claiming itemized deductions of $17,000 on the return. Assume finally that Chris has AGI of $50,000 for the year, but has only $7,000 of qualifying itemized deductions and wishes to claim the standard deduction for the year. What is Chris' taxable income for 2021? A $ 38,000 B 32,700 C 36,700 D 43,000 E None of the above 19. Frances Farley has total assets of $20,000 and total liabilities of $70,000. Pursuant to a Title 11 bankruptcy action, all $70,000 of Frances' debt is discharged. As a result of the debt discharge, Frances will have gross income of what amount? A $70,000 B 50,000 0 D 20,000 E None of the above 20. On May 12, 2020, calendar year Corp. A purchased residential real estate (apartment complex) at a total cost of $250,000. Of this amount, $50,000 was allocated to the underlying land. What is the corporation's allowable depreciation deduction for the second (2021) year? A $5,000 B 5,130 6,350 D 7,270 E None of the above