Question - In Year 1, Tom purchases various assets for her business as follows:
January 20 - purchases equipment for $800 with a recovery period of 7 years
February 2 - purchases equipment for $2000 with a recovery period of 5 years
July 18 - purchases equipment for $2500 with a recovery period of 7 years
September 12 - purchases equipment for $1200 with a recovery period of 7 years
January 1 - purchases a building for $400,000 with a recovery period of 39 years
December 1 - purchases equipment for $3500 with a recovery period of 5 years
Assuming all of the equipment is depreciated under Class A, how much is depreciable for each asset in Year 1?