Question: During 2016 Palo Fiero purchases the following property for use in his calendar year end manufacturing business: manufacturing equipment june 2 $37,000 Office furniture Sep 15 4,500 Office computer Nov 18 3,800 Passenger automobile(used 90 percent for business) May 31 37,500 Warehouse April 23 Building 170,000 Land 135,000 palo uses the accelerated depreciation method under MACRS, if available and does not make the election to expense or take bonus depreciation. Use form 4562 to report Palo's depreciation for 2016