On May 11 of the current year, your calendar year firm purchases a used machine (7-year property) fo

On May 11 of the current year, your calendar year firm purchases a used machine (7-year property) for $10,000; the machine has an estimated salvage value of $1,000. If the machine is the only fixed asset purchased in the current year, and no Section 179 deduction or bonus depreciation is taken, what is your firm’s maximum tax deduction for depreciation this year?$10,000$1,429$9,000$1,2863 points  QUESTION 4On May 11 of the current year, your calendar year firm pays $6,000 for a used computer server (5-year property). This is the company’s only asset purchase for the year. The company estimates that the server will have a salvage value of $500. If no Section 179 deduction or bonus deprecition is taken, what is your firm’s maximum current year deduction for depreciation?$1,200$1,100$869$2,000