1 questions . tables are for any reference . thank you!
Required information [The following information applies to the questions displayed below.) Evergreen Corporation (calendar-year-end) acquired the following assets during the current year: (ignore $179 expense for this problem): (Use MACRS Table 1 and Table 2.) Date Placed Original Asset in Service Basis Machinery October 25 $ 84,000 Computer equipment February 3 20,500 Used delivery truck* August 17 33,500 Furniture April 22 167,500 *The delivery truck is not a luxury automobile. b. What is the allowable MACRS depreciation on Evergreen's property in the current year if Evergreen does not elect out of bonus depreciation? MACRS depreciation Table 1 MACRS Half-Year Convention Depreciation Rate for Recovery Period 3-Year 5-Year 7-Year 10-Year 15-Year 20-Year 33.33% 20.00% 14.29% 10.00% 5.00% 3.750% 44.45 32.00 24.49 18.00 9.50 7.219 14.81 19.20 17.49 14.40 8.55 6.677 7.41 11.52 12.49 11.52 7.70 6.177 11.52 8.93 9.22 6.93 5.713 5.76 8.92 7.37 6.23 5.285 8.93 6.55 5.90 4.888 4.46 6.55 5.90 4.522 6.56 5.91 4.462 6.55 4.461 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 5.90 5.91 3.28 4.462 5.90 4.461 5.91 4.462 5.90 5.91 4.461 4.462 2.95 4.461 4.462 4.461 4.462 4.461 2.231 TABLE 2a MACRS Mid-Quarter Convention: For property placed in service during the first quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 35.00 25.00% Year 2 26.00 21.43 Year 3 15.60 15 31 Year 4 11.01 1093 Year 5 11.01 8.75 Year 6 1.38 8.74 Year 7 8.75 Year 8 1.09 TABLE 26 MACRS Mid-Quarter Convention For property placed in service during the second quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year! 25.00% 1785% Year 2 30.00 23.47 Year 3 18.00 16.76 Year 4 11 37 1197 Year 5 11.37 887 Year 6 4.26 887 Year 7 887 Year 8 3.14 TABLE 24 MACRS Mid-Quarter Convention: For property placed in service during the third quarter Depreciation Rate for Recovery Period 5-Year 7. Year Year 1 15.00% 10.71% Year 2 34.00 25.51 Year 3 20.40 18.22 Year 4 12.34 13.02 Year 5 11.30 930 Year 6 7.06 8.85 Year 7 8.86 Year 8 5.53 TABLE 2 MACRS-Mid Quarter Convention: For property placed in service during the fourth quarter Depreciation Rate for Recovery Period 5-Year 7-Year Year 1 5.00% 3.57% Year 2 38.00 27.55 Year 3 22.80 19.68 Year 4 13.68 14.06 Years 10.94 10.04 Year 6 9.58 8.73 Year 7 8.73 Year 7.64