Chandler acquired the following new assets during 2018:

Date	Asset		Cost
February 1		Agricultural machinery and equipment	$75,000
September 3		Calculators	18,000
December 1		Trucks (not subject to any depreciation limitation)	95,000

Chandler does not elect immediate expensing under § 179 but takes the additional first-year depreciation for the agricultural machinery and equipment and calculators.

Click here to access the depreciation table to use for this problem.

a. What MACRS convention applies to the assets?
Mid-quarter

b. What class of property is each asset for MACRS?
Agricultural machinery - seven years, calculators - five years, Trucks - five years

c. The cost recovery for the current year is:

Agricultural machinery and equipment:	$
Calculators:	$
Trucks:	$