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TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 35.00% 25.00% Year 2 26.00 21.43 Year 3 15.60 15.31 Year 4 11.01 10.93 Year 5 11.01 8.75 Year 6 1.38 8.74 Year 7 8.75 Year 8 1.09 TABLE 2 MACRS Mid-Quarter Convention: For property placed in service during the second quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 25.00% 17.8596 Year 2 30.00 23.47 Year 3 18.00 16.76 Year 4 11.37 11.97 Year 5 11.37 8.87 Year 6 4.26 8.87 Year 7 8.87 Years 3.34 TABLE 2 MACRS Mid-Quarter Convention: For propera placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 15.00% 10.71% Year 2 34.00 25.51 Year 3 20.40 18.22 Year 4 12.24 13.02 Year 5 11.30 9.30 Year 6 7.06 8.85 Year 7 8.86 Year 8 5.53 TABLE 20 MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 5.00% 3.57% Year 2 38.00 27.55 Year 3 22.80 19.68 Year 4 13.68 14.06 Year 5 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 8 7.64 TABLE 3 Residential Rental Property Mid-Month Convention Straight Line-27.5 Years 1 Month 1 Month 2 Month 4 Month 3 2.879% Month Property Placed in Service Month 5 Month 6 Month 7 2.273% 1.970% 1.667% 3.636 3.636 3.636 Year 1 3.182% 2.576% 3.485% 3.636 Month 8 1.364% 3.636 Year 2-9 3.636 3.636 3.636 Month 9 Month 10 Month 11 Month 12 1.061% 0.758% 0.455% 0.152% 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 Year 10 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 Year 11 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.636 3.637 3.636 3.636 3.637 3.636 3.637 3.637 3.636 3.637 3.637 3.637 3.636 3.636 3.637 3.636 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 Year 20 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 Year 21 Year 22 3.637 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 3.637 3.636 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.636 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.636 Year 23 Year 24 Year 25 Year 26 Year 27 3.637 3.636 H 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.637 3.636 3.636 3.636 3.636 3.637 3.636 3.636 3.637 3.636 3.637 3.636 3.636 3.636 3.636 3.636 3.637 3.637 3.637 3.637 DI Year 28 1.97 2.273 2.576 2.879 3.182 3.485 3.636 3.636 3.636 3.636 3.636 3.636 Year 29 0.152 0.455 0.758 1.061 1.364 1.667 TABLE 4 Nonresidential Real Property Mid-Month Convention Straight Line31.5 Years (for assets placed in service before May 13, 1993) Month 3 Month 4 Month 8 Month 10 Month 11 Month 1 3.042% Month 2 2.778% Month 9 0.926% Month 12 0.132% Year 1 2.513% 1.190% 0.661% 0.397% 2.249% 3.175 Year 2-7 3.175 3.175 Month Property Placed in Service Month 5 Month 6 Month 7 1.984% 1.720% 1.455% 3.175 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.175 Year 8 Year 9 3.175 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 Year 10 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 Year 11 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 Year 12 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 13 3.175 3.174 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 Year 14 Year 15 Year 16 Year 17 Year 18 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 Year 19 Year 20 Year 21 3.175 3.174 3.174 3.175 3.175 3.174 3.175 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.174 3.175 3.175 3.174 Year 22 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.174 Year 23 3.174 3.174 3.175 3.174 3.175 3.115 3.174 3.175 3.174 3.175 3.175 3.174 3.174 3.175 3.175 3.175 3.174 3.175 3.174 3.175 3.174 Year 24 Year 25 3.175 3.174 3.174 3.175 3.174 3.175 3.175 3.174 3.174 3.174 3.175 3.174 3.175 3.174 Year 26 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.175 3.175 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.174 PH 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.175 3.174 3.174 3.175 3.175 3.174 3.174 3.174 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 Year 27 Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 3.175 3.174 3.175 3.175 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.174 3.175 3.174 3.175 3.174 3.175 3.174 3.175 3.175 3.174 3.175 H 1.720 1.984 2.249 2.513 2.778 3.042 3.175 3.174 3.175 3.174 3.175 1.190 3.174 1.455 0.132 0.397 0.661 0.926 Month 11 Month 12 TABLE 5 Nonresidential Real Property Mid-Month Convention Straight Line39 Years (for assets placed in service on or after May 13, 1993) Month Property Placed in Service Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Year 1 2.461% 2.247% 2.033% 1.819% 1.605% 1.391% 1.177% 0.963% 0.749% Year 2-39 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 2.564 Year 40 0.107 0.321 0.535 0.749 0.963 1.177 1.391 1.605 1.819 Month 10 0.535% 0.321% 0.107% 2.564 2.564 2.564 2.033 2.247 2.461 ! Required Information (The following information applies to the questions displayed below.] At the beginning of the current year, Poplock began a calendar-year dog boarding business called Griff's Palace. Poplock bought and placed in service the following assets during the year: Asset Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) Date Acquired 3/23 5/12 9/17 10/11 10/11 Cost Basis $ 5,000 7,000 10,000 270,000 80,000 Assuming Poplock does not elect $179 expensing and elects not to use bonus depreciation, answer the following questions: (Use MACRS Table 1. Table 2, Table 3, Table 4 and Table 5.) (Do not round Intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) a. What is Poplock's year 1 depreciation deduction for each asset? % Answer is complete but not entirely correct. Asset $ $ $ Computer equipment Dog-grooming furniture Pickup truck Commercial building Land (one acre) Total Depreciation Deduction 1,640 X 1,458 X 2.000 1,616 X 0 6,714 $ $ $ Table 1 MACRS Half-Year Convention 20-Year 3.750% 7.219 6.677 6.177 Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 33.33% 20.00% 14.29% 10.00% 5.00% 44.45 32.00 24.49 18.00 9.50 14.81 19.20 17.49 14.40 8.55 7.41 11.52 12.49 11.52 7.70 11.52 8.93 9.22 6.93 5.76 8.92 7.37 6.23 8.93 6.55 5.90 4.46 6.55 5.90 6.56 5.91 6.55 5.90 3.28 5.91 5.713 5.285 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 4.888 4.522 4.462 4.461 4.462 4.461 5.90 4.462 5.91 5.90 5.91 4.461 4.462 2.95 4.461 4.462 4.461 4.462 4.461 2.231