1) FMG LLC purchased an apartment building for $500,000 on October 29, 2021 (year 1). Calculate the year 1 depreciation on the apartment building.

		a. $2,275
		b. $2,675
		c. $3,305
		d. $3,790

2) George Michael purchased a delivery truck in 2021 for $18,000. He uses it for his furniture business Monday through Friday. He also uses the truck as his personal vehicle after hours and on weekends. He estimates that the business use is approximately 70%. What is the depreciation on George Michaels truck using the half-year depreciation convention, ignoring 179 expense and bonus depreciation?

		a. $1,929
		b. $2,520
		c. $2,700
		d. $3,600

3) Marshall LLC placed new equipment (7-year property) in service in April 2021. The original basis was $1,600,000. Marshall LLC uses the half-year convention. Assuming no limitations apply, calculate the maximum total depreciation expense including the 179 expense (but ignoring bonus expensing). Assume Marshall LLC elects to utilize the maximum 179 expense available in 2021.

		a. $78,595
		b. $228,640
		c. $1,128,595
		d. $1,600,000

4) Magnolia LLC placed in service on May 19, 2021 machinery and equipment (7-year property) with a basis of $3,200,000. Calculate the maximum amount of 179 expense that the company may claim in 2021 after considering the phase-out threshold.

		a. $470,000
		b. $580,000
		c. $1,050,000
		d. $2,620,000