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Crossroads Eye Care Company purchased $124,600 of equipment on March 1, Year 1. 5-Year Property, 7-Year Property, Year 1 2 3 4 5 6 7

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Crossroads Eye Care Company purchased $124,600 of equipment on March 1, Year 1. 5-Year Property, 7-Year Property, Year 1 2 3 4 5 6 7 8 20.00 32.00 19.20 11.52 11.52 5.76 14.29 24.49 17.49 12.49 8.93 8.92 8.93 4.46 Required a. Compute the amount of depreciation expense that is deductible under MACRS for Year 1 and Year 2, assuming that the equipment is classified as a seven-year property. b. Compute the amount of depreciation expense that is deductible under MACRS for Year 1 and Year 2, assuming that the equipment is classified as a five-year property

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