Vision Eye Care Company purchased ($ 40,000) of equipment on March 1, 2011. Required a. Compute the

Question:

Vision Eye Care Company purchased $\$ 40,000$ of equipment on March 1, 2011.

Required

a. Compute the amount of depreciation expense that is deductible under MACRS for 2011 and 2012, assuming that the equipment is classified as seven-year property.

b. Compute the amount of depreciation expense that is deductible under MACRS for 2011 and 2012, assuming that the equipment is classified as five-year property.

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