Corey purchased two assets during the current year. On May 12th Corey placed in service computer equipment (five-year property) with a basis of $25,000 and on August 19th he placed in service furniture (seven-year property) with a basis of $40,000. Calculate the maximum depreciation deduction (ignoring 179 and bonus depreciation). (Use MACRS Table 1.) View keyboard shortcuts Edit View Insert Format Tools Table 12pt Paragraph