Question: Please Answer Both Questions and Show Work Question 1: In 2019, JEEP Inc. purchased equipment classified as 5 Year property. The cost of the equipment

Please Answer Both Questions and Show Work

Question 1:

In 2019, JEEP Inc. purchased equipment classified as 5 Year property. The cost of the equipment is $80,000 and the salvage value is $5,000.

What is the MARCS Depreciation for Year 2?

Question 2:

In January of 2019, Toyota Inc. purchased a warehouse for $4,500,000. The cost includes $600,000 for the land and the salvage value for the warehouse is $200,000.

What is the MARCS depreciation for Year 1?

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