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Beth's business purchased only one asset during the current year (a full 12-month tax year)....

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Beth's business purchased only one asset during the current year (a full 12-month tax year). Beth placed in service machinery (7-year property) on December 1 with a basis of $72,000. Calculate the maximum depreciation expense (ignoring $179 and bonus depreciation). (Use MACRS Table 2) $3,600 O $10.285 $2,570 None of the choices are correct $14.400 TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreclation Rate for Recovery Period 5.60 11.01 11.01 1.38 21.43 531 1093 8 75 874 8.75 109 TABLE 2b MACRS Mid-Quarter Convention For property placed in service during the second quarter Depreciation Rate for Recovery Perlod 30.00 18.00 11.37 1.37 4.26 7.85 23.47 16.76 11.97 887 887 7 3.34 TABLE 2c MACRS Mid-Quarter Convention For property placed in service during the hird quorter Depreciation Rate for Recovery Period 15.00% 34.00 20.40 12.24 11.30 7.06 10.71% 2551 18.22 13.02 9.30 8.86 TABLE 2d MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 22.80 1368 27.55 1968 14.06 873 873 764 958

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