34. On October 20 of the current year, a company with a December 31 year-end purchases a factory for $150,000, which includes $50,000 the land. What is first-year depreciation for this asset under MACRS d. $2,461 a. $535 b. $53,500 c. $111 Which of the following is not subject to annual IRS depreciation limits? 35. a. An unmodified company van weighing 5,000 pounds b. An unmodified company van weighing 7,500 pounds c. A company car used by the company's sales manager d. A company car used by the company's president