Firm J purchased a depreciable business asset for $66,000. Assuming the firm uses the half-year convention, compute its first-year MACRS depreciation if the asset is: Use and Table 7-2. Required: a. A land irrigation system. b. Duplicating equipment. c. An oceangoing barge. d. Small manufacturing tools. Note: For all requirements, round your answers to the nearest whole dollar amount. TABLE 7.1 Recovery Periods for Tangible Business Assets TABLE 7.2 MACRS for Business Personalty (Half-Year Convention)