Begin by calculating the total Year 1 depreciation for each asset. (Use MACRS rates to three decimal places, X.XXX%. Round all amounts to the nearest dollar. Enter a "0" if no depreciation is allowed. Complete all input cells.) Total for Truck Machinery Land Building Equipment all Assets Bonus depreciation MACRS depreciation Total Year 1 depreciation Now calculate the total Year 2 depreciation for each asset. (Assume bonus depreciation is not available in Year 2. Use MACRS rates to three decimal places, X.XXX%. Round all amounts to the nearest dollar. Enter a "0" if no depreciation is allowed. Complete all input cells.) Total for Truck Machinery Land Building Equipment all Assets Bonus depreciation MACRS depreciation Total Year 2 depreciation

Truck (light-duty, modified non-personal use) costing 20000: Placed in service on February 15, Year 1 with a 5-year MACRS recovery period.

Machinery costing 50000: Placed in service on May 1, Year 1 with a 7-year MACRS recovery period.

Land costing 60000: Placed in service on July 1, Year 1.

Building costing 100000: Placed in service on December 1, Year 1 with a 39-year MACRS recovery period.

Equipment costing 40000: Acquired on December 24, Year 1 and placed in service on January

5, Year 2 with a 5-year MACRS recovery period

Begin by calculating the total Year 1 depreciation for each asset. (Use MACRS rates to three decimal places, X.XXX%. Round all amounts to the nearest dollar. Enter a "0" if no depreciation is allowed. Complete all input cells.)

						Total for
	Truck	Machinery	Land	Building	Equipment	all Assets
Bonus depreciation
MACRS depreciation
Total Year 1 depreciation

Now calculate the total Year 2 depreciation for each asset. (Assume bonus depreciation is not available in Year 2. Use MACRS rates to three decimal places, X.XXX%. Round all amounts to the nearest dollar. Enter a "0" if no depreciation is allowed. Complete all input cells.)

						Total for
	Truck	Machinery	Land	Building	Equipment	all Assets
Bonus depreciation
MACRS depreciation
Total Year 2 depreciation