Depreciation Problem Groups of 2 allowed. 12 Points At the beginning of 2017, Joshua began a calendar year end business and placed in service the following assets during the year. He does not use section 179 or first year (bonus) depreciation. Compute the cost recovery (Depreciation) for the first 2 years of service: Year 1 Year 2 Computer Equipment Office Furniture Truck (not listed property) Commercial Building Residential Rental Property 2/01/17 6/30/17 $170,000 9/30/17 10/11/17 $200,000 4/1/17 $100,000 $40,000 $300,000 8 Points On April 11, 2017 Orange Corporation purchased and placed in service- seven year class assets costing $540,000 and five years class assets costing $140,000. Orange does not use Section 179 Depreciation Orange does take additional first year depreciation (bonus). Assume taxable income is not a limitation. Determine Orange Corporation's 2016 cost recovery. (show work) (no work, no credit)