Problem
A small design firm's only capital purchase this year is a graphics workstation, which will cost $28,000. The firm's taxable income currently averages $60,000 per year. What is the MACRS recovery period? Contrast the depreciation schedules with and without Section 179-use the 2003 dollar limit.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.