Problem $8-5$

Modified Accelerated Cost Recovery System $($MACRS$)$ and Bonus Depreciation, Election to Expense $($Section $179)($LO $8\mathrm{.}2,8\mathrm{.}3)$ purposes of the listed property and luxury automobile limitations$.$ The truck has a depreciable basis of $\backslash$$$50,000$ and an estimated useful life of five years. Assume half$-$year convention for tax.

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b$.$ Calculate the amount of depreciation for $2023,$ including bonus depreciation but no election to expense, that Mike could deduct using the MACRS tables.

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