Hello, I need help with this exercise. Please provide a det

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Hello, I need help with this exercise. Please provide a detailed… Hello, I need help with this exercise. Please provide a detailed step-by-step explanation. PLEASE. As determined by the IRS in its publications 534 and 946, it determines the following for each case:the amount of depreciation allowed for this taxable year if section 179 is not considered.the amount of depreciation allowed for this taxable year if section 179 is considered. Case 1: Kevin RamirezKevin Ramirez is married. He and his wife file separate contributions. In this tax year, Kevin purchased a farm machine for $2,000,000 and put it into service. His wife owns her own business and purchased and placed in service $30,000 worth of business-qualified equipment. Case 2: Benjamin Cruz and Yolanda VelezBenjamín Cruz is married to Yolanda Vélez, with whom he has a car wash business. The business brings in annual income of $120,000. During the taxable year, they acquired and put into operation a car wash machinery that has a useful life of five years. They bought the machinery for $25,000.00.Business Accounting ACCO 3320

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