Problem #6 (5 Points) Rustin bought used 7-year class property on May 15, 2019, for $1,020,000 and 50,000. These are only assets purchased during the year. Rustin elects 179 for $1,020,000 property and straight-line cost recovery for $50,000 property. Rustin's taxable income would not create a limitation for purposes of the $ 179 deduction. No election for additional depreciation is made. Determine the write-off Rustin can take in 2019. Problem #7 (5 Points) Norm purchases a new sports utility vehicle (SUV 5 yr property) on April 12, 2019, for $75,000. The SUV has a gross vehicle weight of 8,000 lbs. It is used 100% of the time for business and it is the only business asset acquired by Norm during 2019. No election is made for additional depreciation. Norm elects section 179. Compute the maximum deduction with respect to the SUV for 2019. Problem #8 (5 Points) During 2019, Max a CPA used his car as follows: 14,000 miles (business), 3,000 miles (commuting), and 4,000 miles (personal). In addition, he spent $440 for tolls (business) and $510 for parking (business). If Max uses the automatic mileage method, what is the amount of his deduction? Problem #6 (5 Points) Rustin bought used 7-year class property on May 15, 2019, for $1,020,000 and 50,000. These are only assets purchased during the year. Rustin elects 179 for $1,020,000 property and straight-line cost recovery for $50,000 property. Rustin's taxable income would not create a limitation for purposes of the $ 179 deduction. No election for additional depreciation is made. Determine the write-off Rustin can take in 2019. Problem #7 (5 Points) Norm purchases a new sports utility vehicle (SUV 5 yr property) on April 12, 2019, for $75,000. The SUV has a gross vehicle weight of 8,000 lbs. It is used 100% of the time for business and it is the only business asset acquired by Norm during 2019. No election is made for additional depreciation. Norm elects section 179. Compute the maximum deduction with respect to the SUV for 2019. Problem #8 (5 Points) During 2019, Max a CPA used his car as follows: 14,000 miles (business), 3,000 miles (commuting), and 4,000 miles (personal). In addition, he spent $440 for tolls (business) and $510 for parking (business). If Max uses the automatic mileage method, what is the amount of his deduction