Assignment:
Q.1. On February 22, 2009, your company bought office furniture for $35,000. According to the accounting rules everyone must play by, what would be the dollar value of depreciation your company could take in the following years assuming they use MACRS and office furniture has a useful life under MACRS of 7years: 2008, 2010, 2011, 2016, 201.Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.Provide step by step solutions for the above question.