1. A firm has a net income of $4,320 and a tax rate of 34 percent. The revenue is $16,800, cost of goods sold is $8,400 and interest expense is $700. What is the depreciation expense for the year?

2. A firm has net wrking capital of $8,100 and current assets of $14,600. Total assets equal $32,900. What is the book value of the firm if long-term debt is $7,500?