Problem $4$ Assume all the same facts as Problem $3,$ except that Melissa maintains a Simplified Employee Pension $($SEP$)$ for herself and her one employee. The discretionary rate is $10\%$ and Melissa intends to make such a contribution for $2024.$ Required $$ Calculate the maximum deductible contribution that Melissa can make for herself for the tax year ended December $31,2024.$ Problem $5$ On January $1,2024,$ Delta Company, a single member LLC $($which is disregarded for income tax purposes$)$ acquired and placed in service a single piece of equipment for a total purchase and installation cost of $$100,000.$ For tax purposes, the equipment was depreciated over a $5-$year recovery period, using a half$-$year convention. $$ Required $$ By reference to the following $($partially presented$)$ IRS table $($see Appendix A of IRS Publication $946),$ calculate the deductible tax depreciation for Delta Company$$s income tax reporting for the years $2024$ and $2026.2024\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_2026\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$ Problem $6$ On January $15,2024,$ David, and Cindy, who are unrelated individuals, exchanged the following vacant lots, both of which were located in Southern Shores, NC$.$ David Cindy Original Cost and basis $$5,000$ $$5,000$ Appraised Fair Market Value $1\mathrm{.}15\mathrm{.}24$ $$200,000$ $$200,000$ Cash or another boot None None $$ Required $$ Calculate the taxable gain that will result from these transactions that will be reported on their separate personal income tax returns. Note that Cindy files as a Single taxpayer and David files Married Filing Jointly with his wife, Janice. $$ On January $15,2030,$ David sold his lot for $$350,000($net of expenses$)$ to an unrelated party. Calculate his gain on this $2030$ sale. $$