1. An asset with the cost basis of 121,000 and a 5 year life using the MACRS method. What is the depreciation amount in year 3 of the assets life?

2. For the asset in the problem above, what is the assets book value after the second years depreciation has been applied?

3. What is the depreciation in the third year using the MACRS method of an asset with a cost basis of 240,000, and a projected useful life of 6 years (Use 5 year schedule)?

4. An asset with a cost basis of 28,000 and zero salvage value after 7 years of use is placed into service during the first quarter of 2020. What is the MACRS method depreciation in the year 2022 for the truck? (Use 7 year schedule)

5. For the truck above, what is the MACRS method depreciation in year 2024?