Depreciate the asset using the example attached ONLY use mis-quarter depreciation and not mid-year? Show your work.

Table 42-1 MACRS Depreciation Rates Mid-Quarter Convention Half-Yea Convention (Quarter) (Quarter) (Quarter) (Quarter) -- 33.33% 44.45 14.81 7.41 58.33% 2778 12.35 3-Year Property 41.67% 38.89 14.14 5.30 25.00% 50.00 16.67 8.33% 61.11 20.37 10.19 5-Year Property 20.00% 32.00 19.20 11.52 11.52 5.76 35.00% 26.00 15.60 11.01 11.01 25.00% 30.00 18.00 11.37 15.00% 34.00 20.40 12.24 11.30 706 5.00% 38.00 22.80 13.68 10.94 9.58 7-Year Property 85% 23.47 16.76 351% 27.55 19.68 14.06 10.04 8.73 8.73 14.29% 24.49 1749 25.00% 21.43 15.31 10.93 8.75 8.74 8.75 10.71% 25.51 18.22 13.02 8.87 8.87 3.33 8.85 8.86 8.93 EXAMPLE During June 2014, you place in business service a used machine costing $20,000, It is your only acquisition in 2014. (Assume you do not elect to expense the cost.) The machine is five-year property and is subject to the half-yearconvention. The depreciation rate for the first year is 20% (see the table above for five-year property). Your 2014 depreciation deduction is $4,000 ($20,000 x 20%). If you hold the machine for the entire six-year recovery period, yourtotal deduction for all years will equal your $20,000 cost. Summary of Deductions Deduction 1 12014) 2 (2015) 3 (2016! 4 (2017) 5 12018) $4,000 3,840 $20,000