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help!! Help Crossroads Eye Care Company purchased $118,700 of equipment on March 1, Year 1 5-Year Property, 7-Year Property. Year 1 2 20.00 32.00 19.20
help!! Help Crossroads Eye Care Company purchased $118,700 of equipment on March 1, Year 1 5-Year Property, 7-Year Property. Year 1 2 20.00 32.00 19.20 11.52 11.52 5.76 14.29 24.49 17.49 12.49 3.93 8.92 8.93 Required a. Compute the amount of depreciation expense that is deductible under MACRS for Year 1 and Year 2, assuming that the equipment is classified as a seven-year property b. Compute the amount of depreciation expense that is deductible under MACRS for Year 1 and Year 2, assuming that the equipment is classified as a five-year property Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount of depreciatin expense that is deductible under MACRS for Year 1 and Year 2, assuming that the equipment is classified as a seven-year property. (Round your answers to the nearest whole dollar amount.) Depreciation Expense Year 1 Year 2
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