This question is for question #19 only. I do not need question 18 answered only question #19 thank you.

An asset was purchased for $85,000, has a salvage value of $7,000, and has a useful life of 5 years. If the asset is placed in service on February 1 the company's fiscal year runs from January 1 to December 31), what is its sum-of-years'-digits depreciation charge for the first year of service? 18. For the asset in question 18, what is the depreciation charge for year one of its useful life using MACRS depreciation and given it is a GDS 3-year property (see attached schedule)? 19. MACRS Depreciation for Personal Property: Half-year Convention Applicable Percentage for GDS Property Class Recovery3-year5-year7-year 10-year 15-year 20-year Property Property Property Property Property Propert 33.33 44.45 14.81 20.00 32.00 19.20 14.29 24.49 10.00 18.00 14.40 5.00 9.50 8.55 3.750 7.219 6.677 11.52 5.76 8.93 8.92 8.93 4.46 9.22 7.37 6.55 6.55 6.56 6.55 3.28 6.93 6.23 5.90 5.90 5.713 5.285 4.888 4.522 5.90 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 4.462 4.461 2.231 13 5.91 2.95 17 Federal Tax Schedule for Corporations Taxable Income Not over $50,000 S50,000 $75,000 $75,000 $100,000 $100,000 - $335,000 $335,000 - $10 million $10 million- $15 million $15 million $18,333,333 Tax Rate 15% 25% 34% Corporate Income Tax 15% over $0 $7,500 25% over $50,000 $ 13,750 34% over $75,000 $22,250-39% over $ 100,000 $ 1 1 3 ,900 34% over $335,000 $3,400,000 + 35% over S10 million $5,159,000 + 38% over $15 million $6,425,667 + 35% over $18,333,333 34% 35% 38% 35% $ 18,333,333