Small Corporation purchased and placed in service the following 100% business-use assets (assume all of the assets were purchased new). Small did not elect Sec. 179 expense on any of these properties but claimed 50% bonus depreciation on all eligible property in 2013.
• Truck (light-duty, modified non-personal use) costing $20,000: Placed in service on February 15, 2013 with a 5-year MACRS recovery period.
• Machinery costing $50,000: Placed in service on May 1, 2013 with a 7-year MACRS recovery period.
• Land costing $60,000: Placed in service on July 1, 2013.
• Building costing $100,000: Placed in service on December 1, 2013 with a 39-year MACRS recovery period.
• Equipment costing $40,000: Acquired on December 24, 2013 and placed in service on January 5, 2014 with a 5-year MACRS recovery period.
What are Small's total depreciation deductions in 2013 and 2014?