Please help

1.

A large profitable corporation purchased a small jet plane for use by the firm's engineers. The plane cost $1,500,000. Use Tables 11-2 and 11-3 in the text or slides. Compute the depreciation for year 2 using MACRS.

$480,000

$542,358

$288,000

$367,350

2.

An oil well is subject to a 15% depletion allowance. The gross income for one year is $550,000. The taxable income excluding depletion is $50,000. Find the allowable depletion charge for that year.

$82,500

$26,231

$50,000

$25,000

3. Please choose from the column

Various depreciation schedules have been computed for an asset having a salvage value of $90 at the end of its recovery period. Identify the type of depreciation used in each case.

Year	A	B	C	D	E
1	$323	$194	$424	$212	$318
2	259	194	254	339	223
3	194	194	153	204	156
4	129	194	92	122	137
5	65	194	47	122	136
6				61
Total	970	970	970	970	970

Column A

[ Choose ] Double declining balance with conversion to Straight Line Straight Line MACRS SOYD 150% declining balance with conversion to Straight Line

Column B

[ Choose ] Double declining balance with conversion to Straight Line Straight Line MACRS SOYD 150% declining balance with conversion to Straight Line

Column C

[ Choose ] Double declining balance with conversion to Straight Line Straight Line MACRS SOYD 150% declining balance with conversion to Straight Line

Column D

[ Choose ] Double declining balance with conversion to Straight Line Straight Line MACRS SOYD 150% declining balance with conversion to Straight Line

Column E

[ Choose ] Double declining balance with conversion to Straight Line Straight Line MACRS SOYD 150% declining balance with conversion to Straight Line