Be You Sailing Corporation put 3 boat vessels into service this year. The asset life according to the IRS is 7 years for each. The first boat was placed into service in Month 1 when Joe contributed it to form the corporation in Scenario 2. The following provides information about each boat. Calculate the depreciation for each boat in year 1 and the total depreciation.

Asset	Placed in Service	Cost Basis	Year 1 Depreciation	Possible Answers for 18-21
Joes Boat	Day 1 at formation	$250,000	?	a. 62,500	e. 437,450
Sunshine	Month 2	$1,000,000	?	b. 278,655	f. 124,950
Clear Sky	Month 6	$700,000	?	c. 35,725	g. 250,000
Total Depreciation (no 179 election)				d. 142,900	h. 100,030