Michael built a new hoop house to grow tomatoes in for his tomato farm for $100,000. Assume a 10 year useful life and no salvage value. Calculate the first year of depreciation for each year of the useful life using the following below. Label your answers to match 1, 2, 3, 4 below and round them to the nearest dollar. Use the MACRS table attached

1. Year 1 Straight line method

2. Year 1 Double declining-balance method

3. Year 1 Sum-of-the-years-digits method

4. Year 1 MACRS (assume 10 year property and mid-year convention)

Table A-1.3-, 5-, 7-, 10-, 15-, and 20-Year Property Half-Year Convention Depreciation rate for recovery period Year 3-year 5-year 7-year 10-year 15-year 1 33.33% 20.00% 14.29% 10.00% 5.00% 2 44.45 32.00 24.49 18.00 9.50 3 14.81 19.20 17.49 14.40 8.55 4 7.41 11.52 12.49 11.52 7.70 5 11.52 8.93 9.22 6.93 20-year UT A CSN 3.750% 7.219 6.677 6.177 5.713 5.76 6 7 8 9 10 8.92 8.93 4.46 7.37 6.55 6.55 6.56 6.55 6.23 5.90 5.90 5.91 5.90 5.285 4.888 4.522 4.462 4.461 3.28 11 12 13 14 15 5.91 5.90 5.91 5.90 5.91 4.462 4.461 4.462 4.461 4.462 2.95 16 17 18 19 4.461 4.462 4.461 4.462 4.461 20 21 2.231