2 3 ABC Corporation purchased the following assets in 2020: 4 5 Asset Date of Purchase 6 Computer 1/5/20 7 Work Equipment 10/22/20 Cost 5,000 15,000 Depreciable Life 5 7 39 9 Land 4/15/20 50,000 10 Warehouse 9/15/20 100,000 11 12 13 Question 1: Should ABC Corporation use the HY or MQ convention in 2020? 15 Assets placed in service in 24 16 Total tangible property placed in service in 2020 17 18 NDIV/0! >40%, must use MQ 19 20 Question 2: Calculate the depreciation for the computer in 2020. 21 22 Cost 23 Dep% from MACRS Chart for Assets Placed in Service in Q1 24 Depreciation 0 25 26 Question 3: Calculate the depreciation for the work equipment in 2020. 27 28 Cost 29 Dep from MACRS Chart for Assets placed in Service in Q4 30 Depreciation 0 32 Question 4: Calculate the depreciation for the land in 2020. 33 34 35 Answer: 0 36 Question 5: Calculate the depreciation for the warehouse in 2020, 37 38 39 40 41 42 43 Cost Depx Depreciation From the Non-Residential Real Property Table - Acquired in Month 9 0 45