1) Under MACRS, the recovery period for residential real property is:

		7 years
		31 years
		27 years
		39 years

2) Depreciation of fixed assets under GAAP v. for tax purposes is based on:

		original cost less salvage value under GAAP v. original cost for tax purposes.
		original cost for GAAP v. the original cost less salvage value for tax purposes.
		original cost both under GAAP and for tax purposes.
		original cost less the salvage value both under GAAP and for tax purposes.

3) A business places in service $2,640,000 of equipment in 2018. If the company has net income of $900,000, the maximum Section 179 the business can elect in 2018 is:

		$1,000,000
		$860,000
		$900,000
		$0
		$140,000

4) Generally, under MACRS, the recovery period for a computer is:

		7 years
		4 years
		3 years
		5 years

5) Residential realty costing $100,000 was placed in service three years ago. MACRS depreciation for the current year is:

		$3,636.
		$14,286.
		$3,175.
		$2,500.
		$2,564.

Please answer all of these, if you have doubts in any of these questions, Please don't answe.

I will upvote you if answer all of these.

Thanks you!