1. On May 11 of the current year, your calendar year firm pays $5,000 for new office furniture (7-year property); this is the only asset purchase for the year. The company estimates that the machine will have a salvage value of $1,000. If your firm elects not to take bonus depreciation or Section 179, how much depreciation will the firm claim on its federal income tax return this year?

		$572
		$715
		$4,000
		$5,000