T, a calendar year taxpayer, decided to move her insurance business into another office building. She purchased a used building for $700,000 (excluding the land) on March 15. T also purchased new office furniture for the building. The furniture was acquired for $200,000 on May 1. Compute MACRS depreciation. Ignore first-year expensing and bonus depreciation. MACRS depreciation tables are located in the Appendix.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.