Exercise $8-14$A $($Algo$)$ Computing depreciation for tax purposes LO $8-6$

Crossroads Eye Care Company purchased $$110,600$ of equipment on March $1,$ Year $1.$

Required

a$.$ Compute the amount of depreciation expense that is deductible under MACRS for Year $1$ and Year $2,$ assuming that the equipment is

classified as a seven$-$year property.

b$.$ Compute the amount of depreciation expense that is deductible under MACRS for Year $1$ and Year $2,$ assuming that the equipment is

classified as a five$-$year property.

Complete this question by entering your answers in the tabs below.

Required $B$

Compute the amount of depreciation expense that is deductible under MACRS for Year $1$ and Year $2,$ assuming that the

equipment is classified as a seven$-$year property. $($Round your answers to the nearest whole dollar amount.$)$