1. At the beginning of the year, Dee began a calendar-year business and placed in service the...

Question:

1. At the beginning of the year, Dee began a calendar-year business and placed in service the following assets during the year:
Asset Date Acquired Cost Basis
Computer equipment ......... 3/23 .......... $5,000
Furniture .................. 5/12 ........... $7,000
Pickup truck .................. 11/15 .......... $10,000
Commercial building ...... 10/11 ............ $270,000
Assuming Dee does not elect §179 expensing or bonus depreciation, answer the following questions:
a. What is Dee's year 1 cost recovery for each asset?
b. What is Dee's year 2 cost recovery for each asset?