Calculate the depreciation on Mike's Corporation assets for Year 1 using the information in the tables provided. Assume that Mike elected to expense $40,000 of the surveying equipment under Section 179 for year 1. Mike also elected out of all applicable bonus depreciation allowances, if any, and did not elect the straight-line method of depreciation. In cells F2, F3, and F4 enter the appropriate MACRS basis after year one for each of the assets listed. In cells G2, G3, and G4 calculate and enter the Yeal 1 MACRS depreciation for each asset. Calculate the total deprecation for the company in year 1 in G5 D Date Placed in Service Section 179 Elected Asset Cost Life Year 1 MACRS Depreciation MACRS Basis January 30, x1 Van $55.000 5 yrs. $0 June 12, x1 Survey Equip. $180,000 7 yrs. $40,000 November 10 Computers $100,000 5 yrs. Total Depreciation