Question: 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

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, start deductions in year 1 $1,000 Spend on Working Capital, sold in year 10 $1,000 Spend on a Commercial Building, purchased in January $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.

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