Question: 1. Find the depreciation for the first three years for a laser printer that costs $5,800 and was placed in service midyear under the MACRS as a five-year property.
2. Find the MACRS depreciation for year 4 for office furniture that costs $131,000 and is placed in service at midyear as a seven-year property. The maximum $25,000 section 179 deduction is elected for this property.