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Hansel LLC purchased Office furniture in 2020 for $50,000 and depreciated it using 7 7-year MACRS. What is depreciation for 2020-2023 and the adjusted

Hansel LLC purchased Office furniture in 2020 for $50,000 and depreciated it using 7 7-year MACRS.   What is depreciation for 2020-2023 and the adjusted basis at the end of 2023?  (format your depreciation expense as -xxxx, i.e. 1000 of depreciation expense should be -1000

Asset cost$50,000
2020 depreciation 
2021 depreciation 
2022 depreciation 
2023 depreciation 
Adjusted basis at the end of 2023 

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To calculate the depreciation for each year and the adjusted basis at the end of 2023 we will use the Modified Accelerated Cost Recovery System MACRS ... blur-text-image

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