A consistently profitable company at a %30 tax bracket purchased a new headquarters building for $8.5 million ($7million for building + $1.5 million for land). They also spent 0.8 million for furniture and equimpment( years MACRS life). The building was placed in service on july 4th-2008 and they plan not to sell it in the forseeable future. compute the depreciation claims for each of years 2008, 2009,2010, and 2011 and the amount of tax deductions claimed.

you have to make a table and compute the building %, then building $, equipment %, equimpment $ , sum and claims.

i have the answer i just need an explaination and formula to get the answer for each category.

what do you mean Tax Question?