1. In May 2001, Jian& Ming bought a light-duty truck for $20,800. One year later, they bought

1. In May 2001, Jian& Ming bought a light-duty truck for $20,800. One year later, they bought an additional truck for $21,800. In June 2003, a third truck was purchased for $23,500. Use MACRS (5-year class) to determine the total allowable cost recovery for 2003.

2. David Marcus purchased new office furniture July 15, 2000, for $28,100. Use MACRS (7-year class) to show the rate, depreciation, and beginning and ending book values for 2000, 2001, and 2002. Round to the nearest dollar.

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