Calculate the following deductions as the tax code allows. When appropriate indicate when would take the deduction:

$1,000 spend on Land, sold in year 10

$1,000 spend on 7 Year MACRS equipment

$1,000 Spend on Working Capital, sold in year 10

$1,000 Spend on a Commercial Building, start depreciation in February

$1,000 Spend on a Patent with a life of 6 years, with the 1/2 year convention

After you have all of the following deduction calculated please calculate the Present Worth of the taxes you will save using a 15% discount rate.

Please show procedure