Problem
A large profitable corporation bought a small jet plane for use by the firm's executives in January. The plane cost $1.5 million and, for depreciation purposes, is assumed to have a zero salvage value at the end of 5 years. Compute the MACRS depreciation schedule.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.