MACRS Property Class In 2018, three assets were purchased and placed in service by a firm: Date Placed in Cost Asset type Service Base Machine 16-Mar tools $8,500 CNC machine 28-May $212,500 Warehouse 11 Jun $330,000 3 years 7 years 39 years 1) Identify the depreciation method used to compute the depreciation allowances for machine tools. Choose the correct answer below? (2 points) a) Double-declining-balance depreciation b) MACRS three-year depreciation with the half-year convention c) MACRS seven-year depreciation with the half-year convention d) Straight-line depreciation and the midmonth convention. 2) Compute the depreciation allowance for machine tools. (3 points) 3) Identify the depreciation method used to compute the depreciation allowances for CNC machine. Choose the correct answer below? (2 points) a) Double-declining-balance depreciation b) MACRS three-year depreciation with the half-year convention c) MACRS seven-year depreciation with the half-year convention d) Straight-line depreciation and the midmonth convention 4) Compute the depreciation allowance for CNC tools. (3 points)