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Required information (The following information applies to the questions displayed below.) Assume that Ernesto purchased...

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Accounting

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Required information (The following information applies to the questions displayed below.) Assume that Ernesto purchased a digital camera on July 10 of year 1 for $3,000. In year 1, 80 percent of his camera usage was for his business and 20 percent was for personal photography activities. This was the only asset he placed in service during year 1. Ignoring any potential $179 expense and bonus depreciation, answer the questions for each of the following alternative scenarios: (Use MACRS Table 1, Table 2.) (Leave no answer blank. Enter zero if applicable.) a. What is Ernesto's depreciation deduction for the camera in year 1? Depreciation deduction $ 0

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