Question: 1. Use the MACRS method to make a depreciation schedule for property that cost $4,800 and was placed in service midyear with a 3-year recovery period. No section 179 deduction was taken.
2. A 5-year property costing $411,000 is placed in service at midyear in 2011. A section 179 deduction of $125,000 is taken for this property and the remaining value is depreciated using MACRS. Prepare a depreciation schedule for the property.