Jason buys and places in service office equipment for his business on February 3, 2021. The cost of the equipment was $17,500 and is considered to have a 7 year recovery period. Jason elects to use the MACRS straight-line method of depreciation. Jason does not wish to claim either Section 179 or bonus depreciation. The depreciation Jason can claim in 2021 is: (All possible answers are rounded) $2,501 $1,750 $1,250 $2,450 None of the above