The Barber Shop just purchased some fixed assets classified as 5-year property for MACRS. The assets cost $26,000. How much depreciation has accumulated by the end of the third year?

A. $4,992

B. $6,656

C. $13,520

D. $14,572

E. $18,512

Allied Partners just purchased some fixed assets that are classified as 3-year property for MACRS. The assets cost $2,400. What is the amount of the depreciation expense in year 4?

A. $0

B. $177.84

C. $355.68

D. $799.92

E. $1,066.56