Calculate the total depreciation expense for both assets

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Reference no: EM131983519

Problem

Steve purchased two assets in 2016. A 5 year asset for 70,000 on 10/30/16 and a 7 year asset for $100,000 on 2/9/16. Steve does not want to take Section 179 Depreciation in 2016. Calculate the deprecation expense for 2016. Steve sells the 5 year asset on 8/17/17. Calculate the total depreciation expense for both assets in 2017.

Reference no: EM131983519

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