Question: On March 20, 2012, Norton Systems acquired two new assets. Asset A was research equipment costing $17,000 and having a 3-year recovery period. Asset B

On March 20, 2012, Norton Systems acquired two new assets. Asset A was research equipment costing $17,000 and having a 3-year recovery period. Asset B was duplicating equipment having an installed cost of $45,000 and a 5-year recovery period. Using the MACRS depreciation percentages in Table 4.2, prepare a depreciation schedule for each of theseassets.

Rounded Depreciation Percentages by Recovery Year Using MACRS for First Four Property Classes TABLE 4.2 Percentage by recovery year4 5 years Recovery year 3 years 33% 45 15 7 years 14% 25 10 years 32 19 12 12 10% 18 14 12 12 10 100% 100% 100% 100%

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