1. Calculate the depreciation schedule for a $100,000 office building placed in service in October 2006.
2. Calculate the MACRS depreciation schedule for a milling machine that costs $47,500 and has installation and shipping costs of $2,500. The milling machine is classified as a 7-year MACRS asset. The milling machine is estimated to have a salvage value of $15,000 at the end of its 15-year economic life.