2. On 2/1/2017, Dennis purchased new office equipment (7-year property) for $16,000, and placed it in service on September 1, 2017. The equipment is used 100% for business and has a salvage value of $600. Dennis did not make an election to use IRC $179. He did not elect to claim any additional first year depreciation either. Required. Calculate the cost recovery deduction for 2018: $ 2019. $