8. Check the one box that best classifies the balance sheet items found in the left column. Current Non-current Current Non-current Asset Asset Liability Liability Machine Shed 36-month certificate of deposit 20-year farm mortgage New-born calves A bill at local supplier Food ingredients in the kitchen Land for the business Loans payable in one year Taxes due now Loan on doughnut maker oo 0 N Regular MACRS Recovery Rates or Farm and Ranch Assets in the 3-, 5-, and 7-Year Classes (Half-Year Convention Recovery 3-year 5-year 7-year Year class class class 1 25.00 15.00 10.71 37.50 25.50 19.13 3 25.00 17.85 15.03 4 12.50 16.66 12.25 5 16.66 12.25 8.33 1225 7 1225 8 6.13