Class 3-year Typical Assets Small tools, tractors, horses, specialized mfg. Devices Depr. Method 200% Decl. Bal. Fourth quarter 5-year 200% Decl. Bal. Computers, autos, light trucks, small aircraft, Construction equipment, research and develop- Ment property Table 2-2. Optional MACRS GDS Percentage Tables a. MACRS 5-Year Property (200% DB) Half-year convention Mid-quarter convention Year First Second Third quarter quarter quarter 1 20.00% 35.00% 25.00% 15.00% 32.00 26.00 30.00 34.00 19.20 15.60 18.00 20.40 4 11.52 11.01 11.37 12.24 11.52 11.01 11.37 6 5.76 1.38 4.26 7.06 b. MACRS 7-Year Property (200% DB) Half-year convention Mid-quarter convention 5.00% 38.00 22.80 13.68 10.94 9.58 11.30 7-year 200% Decl. Bal. Office furniture, fixtures and equipment, com- Mercial aircraft, and most machinery Year First quarter Second quarter Third quarter Fourth quarter 10-year 200% Decl. Bal. Specialized heavy mfg. Machinery, mobile Homes 17.85% 14.29% 24.49 17.49 25.00% 21.43 15.31 10.71% 25.51 18.22 12.49 10.93 13.02 3.57% 27.55 19.68 14.06 10.04 8.73 8.73 15-year 150% Decl. Bal. 23.47 16.76 11.97 8.87 8.87 8.87 Billboards, service station buildings, and tele- Phone equipment 9.30 8.85 8.86 20-year 150% Decl. Bal. Mid-quarter convention Sewer pipes, most utility property, land improve- ments 8.93 8.75 8.92 8.74 8.93 8.75 C. MACRS 15-Year Property (150% DB) Half-year convention Year First quarter 5.00% 9.50 9.13 8.55 8.21 7.70 7.39 6.93 6.65 6.23 5.99 5.90 5.90 5.90 5.91 Fourth quarter 8.75% 1.25% 27.5 year Residential real estate property Straight Line Second quarter 6.25% 9.38 8.44 7.59 6.83 6.15 5.91 5.90 Third quarter 3.75% 9.63 8.66 7.80 7.02 6.31 5.90 5.90 31.5 year Office and other non-residential real estate property Straight Line 9.88 8.89 8.00 7.20 6.48 5.90 5.90 Your boss has just purchased a small plane to be used to take aerial images of the company's construction project. Using the Depreciation rates for 200% Declining Balance Using the Half Year Convention, develop a depreciation schedule. The cost of the plane was $450,000. There is no expected salvage value