Problem $8-40($Algorithmic$)($L$0.2,3,9)$

On January $20,2022,$ Javier Sanchez purchased and placed in service a new $7-$year class

asset costing $$412,400$ for use in his landscaping business, which he operates as a single

member LLC $($Sanchez Landscaping LLC$).$

Rather than using bonus depreciation, Javier would like to use $179$ to expense $$200,000$ of

this asset and then use regular MACRS to cost recover the remaining cost. During $2022,$ his

business generated a net income of $$494,880$ before any $179$ immediate expense election.

If required round your intermediate computations and final answers to the nearest

dollar. Click here to access the depreciation table to use for this problem.

a$.$ Determine the cost recovery deductions $($including first$-$year additional depreciation$)$ that

Javier Sanchez can claim with respect to this asset in $2022$ and $2023.$

Total cost recovery deduction in $2022$: $

Total cost recovery deduction in $2023$: $