Dean and Ellen Price are married and have a manufacturing business. They bought a piece of business equipment (7-year personal property) on #112017 for $50,000. Use half-year convention to calculate the MACRS depreciation deduction on the equipment for 2017 and 2018 They also has a pick-up truck used for business (5-year recovery period) acquired on 82312017 for $25,000. On 1111512018, he sold the pick-up truck for $24,000. Use the half-year convention to calculate the MACRS depreciation on the truck for 2017 and 2018. On 1012612018 Dean sold his old storage building used for his business for $220,000. They purchased the building in 2001 for $100,000. Total depreciation (accumulated depreciation) taken on the building is $20,000. His 2018 Business income and expenditures (Schedule -C): Sales $ 65?,500 Cost of goods sold $ 315,000 Other business expenses (incl. deprecation taken on the storage building) $ 140,000 In 2018 Dean also sold various assets. The information about the selling price and depreciation of the property is listed below. Placed in Accumulated Adjusted Service / Initial Cost 2018 Depr. Depreciation. Basrs Purchased Amount (Depr. Allowed) Ofce tables 10/ 16/20 18